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Westside, Inc. owns 15% of Innsbrook's common stock. This year, Westside generated $50,000 operating income and received $20,000 dividends from Innsbrook (not included in operating
Westside, Inc. owns 15% of Innsbrook's common stock. This year, Westside generated $50,000 operating income and received $20,000 dividends from Innsbrook (not included in operating income).
Westside's taxable income is:
A) $60,000
B) $70,000
C) $50,000
D) $40,000
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