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ue.36. Hart Enterprises, a U.S. corporation, owns 100% of OK, Ltd., an Irish corporation. OKs gross income for the year is $10 million. Determine OKs
ue.36. Hart Enterprises, a U.S. corporation, owns 100% of OK, Ltd., an Irish corporation. OKs gross income for the year is $10 million. Determine OKs subpart F income (before any expenses) from the transactions that it reported this year. a. OK received $600000 from sales of products purchased from Hart and sold to customers outside Ireland. b. OK received $1 million from sales of products purchased from Hart and sold to customers in Ireland. c. OK received $400000 from sales of products purchased from unrelated suppliers and sold to customers in Germany. d. OK purchased raw materials from Hart, used these materials to manufacture finished goods, and sold these goods to customers in Italy. OK earned $ 300000 from these sales. e. OK received $100000 for the performance of warranty services on behalf of Hart. These services were performed in Japan for customers located in Japan. f. OK received $50000 in dividend income from investments in Canada and Mexico
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