Green corporation owns 40% of the stock of Yellow corporation. Green Corporations book and taxable...
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Green corporation owns 40% of the stock of Yellow corporation. Green Corporations book and taxable income before considering any income from Yellow is $300,000 for 2017. Yellow corporation earns $40,000 in 2017, and pays dividend of which Greens share is $10,000.
1. What is Green corporations book income?
2. what is greens corporation taxable income?
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