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Required information [The following information applies to the questions displayed below.] Marathon Inc. (a C corporation) reported $1,700,000 of taxable income in the current
Required information [The following information applies to the questions displayed below.] Marathon Inc. (a C corporation) reported $1,700,000 of taxable income in the current year. During the year, distributed $170,000 as dividends to its shareholders as follows: $8,500 to Guy, a 5 percent individual shareholder. $25,500 to Little Rock Corp., a 15 percent shareholder (C corporation). . $136,000 to other shareholders. d. Complete Form 1120 Schedule C for Little Rock Corp. to reflect its dividends received deduction (use the most recent Form 1120 Schedule
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