LO.2 Complete the chart below, indicating the Calvet Trust’s entity accounting income for each of the alternatives. For this purpose, use the following information.

Interest income, taxable $300,000 Interest income, tax-exempt 30,000 Interest income, tax-exempt but AMT preference item 20,000 Long-term capital gain 25,000 Trustee fee 5,000 Trust Agreement Provisions Trust Accounting Income Fees and capital gains allocable to corpus Capital gains allocable to corpus, one-half of fees allocable to income Capital gains allocable to income, silent concerning allocation of fees Fees and exempt income allocable to corpus, silent concerning allocation of capital gain/loss