Question 21 2 PO Thrush. Inc. reported $710,000 of taxable income this year. Its gross tax liability amounts to $149.100. A True False Question 22 2 Points A corporation can offset a net operating loss against taxable income for up to the next five succeeding years. True B) False Question 23 2 Points Canary Corporation received a dividend of $340.982 from Sparrow Corporation Canary owns 15 of Sparrow Corporation. Under "Step of the dividends received deduction calculation Canary's deduction is 5170.491 True e start a search O Denver, Inc. has operating income of $269,000, operating expenses of $157,000, and a net capital loss of $200.000. Denver may report a net operating loss of $88,000. True False Question 25 2 Points Evans Corporation has a $15.000 net capital loss in 2019. The corporation reported capital gains of $10,000 in 2016, $11.000 in 2017 and 55.000 in 2018. The corporation will offset all of the capital gains from 2016, and $5.000 of the capital gains from 2017 A) True B) False 2 Points Question 26 if a corporation owns more than 20% of another corporation from which it receives dividends. It may deduct the lesser of 65% of the dividends received or 65% of its taxable income E Lost Soved 11:14 AM 99 minutes remaining i - & Start a search 6 R