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Questions through are based on the following fact situation In 2020, Reid Incorporated, a manufacturer and retailer of computer parts, reported the MULTIPLE CHOICE (60

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Questions through are based on the following fact situation In 2020, Reid Incorporated, a manufacturer and retailer of computer parts, reported the MULTIPLE CHOICE (60 points) Place your answer in the space provided $82,007,068 136,740 62.430.048 8.007,570 3,427.981 2,793,978 The corporation also has a net operating loss carryover from a previous year in the amoun $17,340,982 following activity during the year Gross Profit Dividends from 13% owned corporation Operating Expenses Charitable contributions Capital Gains Capital Losses 1) Reid's charitable contribution deduction amounts to: a: $300,678 b: $279,697 c: $800.757 d some other amount 2) Reid's dividends received deduction amounts to: a: $113,334 b: $68,370 c: $100,257 d: some other amount 3) Reid's net operating loss deduction amounts to: a: $17,340,982 b: $16,339,452 c: $15,982,972 d: some other amount 4) Reid's taxable income amounts to: a: $3,834,863 b: $3,995,743 C: $3,124,997 d: some other amount 5) Reid's tax liability amounts to: a: $656,249 b: $805,321 c: $839, 106 d: some other amount 6) Reid's charitable contribution carryover amounts to: a: $6,656,249 b: $5,554,013 c: $7,706,892 d: some other amount 7) Reid's net operating loss carryover amounts to: a: $2,796,965 b: $1,358,010 c: $2,001,530 d: some other amount 8) Assume that Reid paid $243,620 in estimated taxes every quarter. Reid's final result is: a: Reid has an overpayment of $0 b: Reid has a balance due of $974,480 c: Reid has an overpayment of $135,374 d: Reid has a balance due of $0

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