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Crowley corporation has the following income during the

Question - Crowley Corporation has the following income during the current year:

Net income from operations $120,000

Dividends received from 10% owned corporation $ 30,000

Dividends received from 25% owned corporations $ 10,000

Dividends received from 85% owned corporations $ 40,000

What is the amount of the corporation's taxable income? (Show calculations).

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Accounting Basics: Crowley corporation has the following income during the

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Accounting Basics: Crowley corporation has the following income during the

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