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Problem 12-23 (Algorithmic) (LO. 5, 6) Zebra, Inc., a calendar year S corporation, incurred the following items this year. Sammy is a 45% Zebra shareholder

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Problem 12-23 (Algorithmic) (LO. 5, 6) Zebra, Inc., a calendar year S corporation, incurred the following items this year. Sammy is a 45% Zebra shareholder throughout the year. Sales $185,000 Cost of goods sold (74,000) Depreciation expense (MACRS) (18,500) Administrative expenses (9,250) $1231 gain 21,000 Depreciation recapture income 33,500 Short-term capital loss from stock sale Long-term capital loss from stock sale (9,000) (8,000) 22,000 Long-term capital gain from stock sale Charitable contributions (4,800) a. Indicate whether the following items are included in nonseparately computed income. Select "Yes or No", whichever is applicable. Note: Round final value to the nearest whole dollar. Sales Yes Cost of goods sold Yes Depreciation expense (MACRS) Yes Administrative expenses Yes $1231 gain No Depreciation recapture income Yes Short-term capital loss from stock sale No Long-term capital loss from stock sale No Long-term capital gain from stock sale No Charitable contributions No Calculate Sammy's share of Zebra's nonseparately computed income or loss. His share of the nonseparately computed income is $ b. Calculate Sammy's share of any Zebra long-term capital gain, if any. $ Feedback Check My Work c. Calculate Sammy's share of charitable contributions, if any. Feedback Check My Work

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