Determine the amount of taxable income and separately stated items in each of the cases below. Assuming the corporation is a Subchapter S corporation. Ignore any carryforward items.

Required:

A. Corporate financial statement: net income of $52,250 including tax expense of $15,100, charitable contributions of $3,000, and depreciation expense of $37,150. Depreciation expense for tax purposes is $46,160.

B. Corporate financial statement: net income of $139,400 including tax expense of $68,150, charitable contributions of $28,000, depreciation expense of $103,250, and nonrestaurant meals expenses of $31,100. Depreciation expense for tax purposes is $145,300.

C. Corporate financial statement: net income of $226,450 including tax expense of $111,180, charitable contributions of $16,000, municipal bond interest of $19,130, nonrestaurant meals expenses of $41,300, capital gains of $6,050, and depreciation expense of $142,350. Depreciation expense for tax purposes is $131,250, and the corporation has a $7,035 charitable contribution carryforward for the current year.

Determine the amount of taxable income and separately stated items in each of the cases below. Assuming the corporation is a Subchapter S corporation. Ignore any carryforward items. Required: 0. Corporate financial statement: net income of $52.250 including tax expense of $15,100, charitable contributions of $3,000, and depreciation expense of $37,150. Depreciation expense for tax purposes is $46,160. b. Corporate financial statement net income of $139,400 including tax expense of $68,150, charitable contributions of $28,000, depreciation expense of $103,250, and nonrestaurant meals expenses of $31,100. Depreciation expense for tax purposes is $145,300. c. Corporate financial statement net income of $226,450 including tax expense of $1111,180, charitable contributions of $16,000, municipal bond interest of $19,130, nonrestaurant meals expenses of $41,300, capital gains of $6,050, and depreciation expense of $142,350. Depreciation expense for tax purposes is $131,250, and the corporation has a $7,035 charitable contribution carryforward for the current year. Complete the question by entering your answers in the tabs below. Corporate financial statement: net income of $52,250 including tax expense of $15,100, charitable contributions of $3,000, and depreciation expense of $37,150. Depreciation expense for tax purposes is $46,160