Hansen Corporation. a C Corporation (mot a manufacturer) reports the following items in income and expenses for 2021 Gross Revenue $900,000 Dividend Received from 30% owned Corp 200,000 LTCG 30,000 STCL 12000 City of Lee's Summit Bond Interest 10000 COGS 375000 Administrative Expenses 325000 Charitable Contribution 60,000 Compute Hansen's C Corp Taxable income?
Hansen Corporation. a C Corporation (mot a manufacturer) reports the following items in income and expenses for 2021 Gross Revenue $900,000 Dividend Received from 30% owned Corp 200,000 LTCG 30,000 STCL 12000 City of Lee's Summit Bond Interest 10000 COGS 375000 Administrative Expenses 325000 Charitable Contribution 60,000 Compute Hansen's C Corp Taxable income?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Hansen Corporation. a C Corporation (mot a
manufacturer) reports the following items in
income and expenses for 2021
Gross Revenue
$900,000
Dividend Received from 30% owned Corp
200,000
LTCG
30,000
STCL
12000
City of Lee's Summit Bond Interest
10000
COGS
375000
Administrative Expenses
325000
Charitable Contribution
60,000
Compute Hansen's C Corp Taxable income?
a. 246,200
b. 276200
c. 275000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2cd05eb9-d4fb-47d4-a045-424c40c5ae8e%2Fa82d516f-7501-4b06-ae55-8a916eae9bd5%2Fi63w8cpu_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Hansen Corporation. a C Corporation (mot a
manufacturer) reports the following items in
income and expenses for 2021
Gross Revenue
$900,000
Dividend Received from 30% owned Corp
200,000
LTCG
30,000
STCL
12000
City of Lee's Summit Bond Interest
10000
COGS
375000
Administrative Expenses
325000
Charitable Contribution
60,000
Compute Hansen's C Corp Taxable income?
a. 246,200
b. 276200
c. 275000
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