Multiple Choice
Lane Inc., an electing S corporation, realizes $150,000 from sales during the current year. Lane also receives $20,000 of dividends from a 3% owned corporation. Operating expenses total $155,000. Lane's operating income is
A) $(19,000)
B) $( 5,000)
C) $1,000
D) $4,500
E) $15,000
Correct Answer:
Verified
Correct Answer:
Verified
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