Reference no: EM131776757
Problem - McKain, Inc., a calendar year S corporation, incurs the following items.
Sales $141,000
Depreciation recapture income 12,000
Short-term capital gain 17,020
Cost of goods sold (45,000)
Municipal bond interest income 5,000
Administrative expenses (15,000)
Depreciation expense (21,000)
Charitable contributions (12,300)
Calculate McKain's nonseperately computed income.
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