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Holmdel,Inc

Question 20

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Holmdel,Inc.,a U.S.corporation,received the following sources of income during 2017:
$10,000 interest income from a loan to its 100 percent owned Swiss subsidiary.
$50,000 dividend income from its 100 percent owned French subsidiary.
$100,000 royalty income from its Bermuda subsidiary for use of a trademark outside the United States.
$25,000 rent income from its Canadian subsidiary for use of a warehouse located in New Jersey.
$50,000 capital gain from sale of stock in its 40 percent owned Japanese joint venture.Title passed in Japan.
What amount of foreign source income does Holmdel have in 2017?

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$160,000
Foreign source income...

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