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5 July, 04:21

Lopez Corporation's results for the current year are as follows: Gross revenue $600,000 Operating expenses 200,600 Dividend income (stock ownership 9%) 2,000 1. How much is Lopez Corporation's taxable income for 2014? a. $400,000 b.$399,400 c.$401,400 d.$204,000

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  1. 5 July, 04:24
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    Taxable revenue will be $401400

    So option (c) will be correct option

    Explanation:

    We have given gross revenue = $600000

    Operating expenses = $200600

    And dividend income = $2000

    We have to find the taxable revenue

    We know that taxable revenue is given by

    Taxable revenue = Gross revenue - operating expenses + dividend income = $600000-$200600+$2000 = $401400

    So taxable revenue will be $401400

    So option (C) will be correct answer
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