(Answered) Problem - mckain inc a calendar year s corporation incurs

Accounting

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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