Determine big incs taxable income for the year, Taxation

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Determine big incs taxable income for the year

Problem

Big, Inc., a C corporation owns 40% of the stock of Little, Inc. This year Big, Inc. received a $150,000 dividend from Little, Inc. In addition to the dividend, Big, Inc. had a net operating loss of $(5,000) and a net long-term capital gain of $3,000.

Task

Determine Big, Inc.'s taxable income for this year.

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Taxation: Determine big incs taxable income for the year

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