Essay
Gogo-a-gogo,a manufacturer of dance shoes located in France,is a 90% owned subsidiary of Dance-Togs,Incorporated,a calendar-year corporation.In 2014 it earned a total of $400,000 on its manufacturing operations in France and paid $120,000 in French income taxes on that income.It distributed a total of $60,000 to its parent corporation during the year.How much of Gogo-a-gogo's income must Dance-Togs include in its income for 2015?
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