Schirtzinger shoes inc. owns 25 of the stock of marinero, Ask an Expert

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Schirtzinger Shoes, Inc. owns 25% of the stock of Marinero Shoes, Inc., a U.S. corporation. During the year, its sales were $250,000, and its cost of goods sold and other business expenses were $300,000. It received an $80,000 dividend from Marinero Shoes. How much is its dividends received deduction? What if its business expenses total $265,000?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M991909

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