During the Current Year, Metcalf Corporation Has the Following Items

Multiple Choice

During the current year, Metcalf Corporation has the following items of income and expense: Metcalf owns 37% of the corporation that distributed the dividend to Metcalf. Determine the amount reported as income before special deductions for the current year.

A) $130,000
B) $134,000
C) $150,000
D) $454,000
E) $470,000