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taxable dividend income=? taxable ordinary income=? does management need to take any additional action? (Corporate income tax) The Robbins Corporation is an oil wholesaler. The

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taxable dividend income=?
taxable ordinary income=?
does management need to take any additional action?
(Corporate income tax) The Robbins Corporation is an oil wholesaler. The company's sales last year were $1.07 million, with the cost of goods sold equal to $647,000. The firm paid interest of $220,000, and its cash operating expenses were $130,000. Also, the firm received $30,000 in dividend income while paying only $15,000 in dividends to its preferred stockholders. Depreciation expense was $159,000. Compute the firm's tax liability by using the corporate tax rate structure in the popup window, . Based on your answer, does management need to take any additional action? Calculate the gross profits. The gross profits are $ (Round to the nearest dollar.) Calculate the taxable dividend income. The taxable dividend income is \$ (Round to the nearest dollar.) (Click on the following icon in order to copy its contents into a spreadsheet.)

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