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Shuba Corporation reports the following results in the current year: Gross income from operations Dividends from 15% owned domestic corporation Cost of Goods Sold
Shuba Corporation reports the following results in the current year: Gross income from operations Dividends from 15% owned domestic corporation Cost of Goods Sold Salaries Rent Depreciation expense Advertising Expand Fines and penalties - Not Destuctible Telephone and utilities Political contributions Not Deductible Sporting/recreational expense Net Deductible Repairs and maintenance Returns and allowances Taxes and licenses $150,000 50,000 45,000 26,000 24,000- 70,000 15,000 5,000 1,500 2,500 1,000/ 4,000 12,000 3,500- 5,000 What is Shuba's dividends received deduction, taxable income and tax liability?
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