Tax Project
Income:
Gross Recipts
Cost of Goods Sold
Gross Profit				$0
Dividends Received
Interest Income
Total Income				$0
Deductions:
Interest Expense
Depreciation Expense
Other Operating Expense
Dividend Received Deduction
Total Deductions				$0
Taxable Income				$0
Tax Liability				$0

ACC 4302 Summer III 2019 Project - Compatibility Mode - Saved to this PC Mailings Review View Help Grammarly Search E 21 AaBbCcDd AaBbceDd AaBbC AaBbcc AaB AaBbc 1 Normal 1 No Spac... Heading 1 Heading 2 Title Subtitle Paragraph DO - 2 Styles 56. 3 . ACC 4302 Summer III 2018 Project Your client Zenith a C corporation involved in the retail trade business has submitted to you selected financial data from the tax year 2018 shown below. Zenith has filed an extension on Form 7004 which gives them until October 15, 2019 to file their 2018 return. They have asked you to take a look at the selected financial information below and determine what their 2018 tax liability will be. Gross receipts Cost of goods sold Dividends received (less than 20%-owned) Interest Income Interest Expense Depreciation Other Operating Expenses Dividends received deduction 25,800,000 21,300,000 120,000 40,000 850,000 575,000 1,500,000 84,000 You should use the attached excel worksheet and information presented on chapter 3 slides to formulate your response