Please answer as many as you can. Anything will be appreciated. God Bless You.

ABC Corporation has net income per books of $106,000 for 2019. This figure included a deduction for charitable contributions of $15,000 and a deduction for a net short-term capital loss of $10,000. Included in income per books was $50,000 of dividend income received from a 15% owned domestic corporation. What is the amount of ABCs taxable income for 2019?

Group of answer choices

$92,900

$117,900

$131,000

$131,950

Property with an adjusted basis of $45,000 was transferred by Mary to her controlled corporation under Section 351. In exchange, she received stock with a FMV of $70,000, cash of $25,000 and the assumption of her liability on the property of $20,000. What is the amount of gain recognized by Mary?

Group of answer choices

$25,000

$30,000

$45,000

$70,000

Westlake Inc., which had earnings and profits of $100,000, distributed Land to Peter, a stock holder. Westlakes adjusted basis for this land was $5,000. The land has a fair market value of $12,000 and was subject to a mortgage liability of $7,000, which was assumed by Peter. How much of the distribution was taxable as a dividend?

Group of answer choices

$9,000

$5,000

$4,000

$3,000

Tina owns 100 percent of the common stock of Lotus Corporation. During 2018, when its earnings and profits were $3,500, Lotus issued preferred stock worth $5,000 as a nontaxable stock dividend to Tina. In 2019, when Lotus earning, and profits were $5,000, Tina sold the preferred stock to an unrelated person for $5,000. What amount of dividend income is recognized by Tina on the sale of the preferred stock?

Group of answer choices

$0

$2,500

$3,500

$5,000

Assume the same fact as above, except that Tina has Lotus redeem her the preferred stock for $5,000 in 2019. What amount of redemption proceeds will be recognized by Tina dividend income?

Group of answer choices

$0

$2,500

$3,500

$5,000

Besta Corporation, which had earnings and profits of $400,000, made a non-liquidating distribution of property to its stockholders during the current year. This property had an adjusted basis of $10,000 and a fair market value of $25,000 at the date of distribution. How much gain did Besta have to recognize on this distribution?

Group of answer choices

$0

$5,000

$10,000

$15,000

Barefoot Corporations earnings and profits for 2019, its first year of operations, were $70,000. In December 2019, it distributed to one of its shareholders, Bridlewood Corporation, land with a basis of $20,000 and a fair market value of $60,000 at the date of distribution. What is the amount of distribution that will be taxed as a dividend to Bridlewood Corporation?

Group of answer choices

$0

$20,000

$50,000

$60,000