Steve made the following transfers during the year: $10,000 to louisiana state university. the $10,000 contribution allows him to purchase football season tickets. steve also bought the football season tickets at a cost of $5,000. $400 to the local public broadcast television station during the annual fund drive. in return for the $400 contribution, steve received a mug and pen with the station’s logo valued at $8. 1,000 shares of abc stock to the united way. at the date of the contribution, the stock had a fair market value of $50 per share. steve’s adjusted taxable basis in the stock was $10 per share and he held the stock long-term. ignoring any agi limitations, what is steve’s maximum charitable income tax deduction for this year?

Vortex company operates a retail store with two departments. information about those departments follows. department a department b sales $ 800,000 $ 450,000 cost of goods sold 497,000 291,000 direct expenses salaries 125,000 88,000 insurance 20,000 10,000 utilities 24,000 14,000 depreciation 21,000 12,000 maintenance 7,000 5,000 the company also incurred the following indirect costs. salaries $36,000 insurance 6,000 depreciation 15,000 office expenses 50,000 indirect costs are allocated as follows: salaries on the basis of sales; insurance and depreciation on the basis of square footage; and office expenses on the basis of number of employees. additional information about the departments follows. department square footage number of employees a 28,000 75 b 12,000 50 required: 1. determine the departmental contribution to overhead and the departmental net income for department a and department b.