The John and John Corporation has ordinary income of $250,000 for 2021, including dividends of $50,000 received from 90%-owned domestic corporations. How much is the Johnson and Johnson corporation’s dividends received deduction for 2021? $0 $40,000 $50,000 $170,000
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The John and John Corporation has ordinary income of $250,000 for 2021, including dividends of $50,000 received from 90%-owned domestic corporations. How much is the Johnson and Johnson corporation’s dividends received deduction for 2021?
- $0
- $40,000
- $50,000
- $170,000
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- Assume that a corporation has $100,000 of taxable income from operations plus $5,000 of interest income and $10,000 of dividend income. What is the company’s federal tax liability?Rhodes Corporations financial statements are shown after part f. Suppose the federal-plus-state tax corporate tax is 25%. Answer the following questions. a. What is the net operating profit after taxes (NOPAT) for 2020? b. What are the amounts of net operating working capital for both years? c. What are the amounts of total net operating capital for both years? d. What is the free cash flow for 2020? e. What is the ROIC for 2020? f. How much of the FCF did Rhodes use for each of the following purposes: after-tax interest, net debt repayments, dividends, net stock repurchases, and net purchases of short-term investments? (Hint: Remember that a net use can be negative.) Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars)Ironwood Corporation has ordinary taxable income of $65,000 in 2019, and a short-term capital loss of $15,000. What is the corporation's tax liability for 2019? $7,500 $5,250 $10,500 $13,650 None of the above
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