1. NOP Inc. had the following income and expenses during the current taxable year. Its income from operations was $250,000, its expenses from operations were $120,000, its dividends received (from a 30 percent-owned corporation)) were $80,000, and it made cash charitable contributions of $30,000
How much is NOP Inc.’s charitable contribution deduction for the current taxable year?
A. $14,600.
B. $21,000.
C. $26,000.
D. $30,000.
2. The major forces behind earnings per share are
a. return on assets and book value.
b. return on assets and total asset turnover.
c. return on equity and book value.
d. return on equity and the equity multiples.