Acorn inc. had the following items of income and expense:
sales $ 500,000
cost of sales...
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Business, 03.12.2019 18:31 daltonrebekah3532
Acorn inc. had the following items of income and expense:
sales $ 500,000
cost of sales 250,000
dividends received 25,000
the dividends were received from a corporation of which acorn owns 30%.
in acorn's corporate income tax return, what amount should be reported as income before special deductions?
a. $250,000
b. $505,000
c. $275,000
d. $525,000
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