You will need a law degree
If three people work for a company:
A, who has worked there for 5 years,
B, who has worked there for 20 years,
and C, who has worked there for 1 year,
B has seniority over A and C, A has seniority over C. In most companies, this would mean that barring other factors, C would be fired first because C has the lowest seniority. <span />
Answer:
$444,000
Explanation:
current earnings and profits = (taxable income - income taxes) - meals expense + tax exempt income = ($600,000 - $155,000) - $3,000 + $2,000 = $444,000
Disallowed expenses are expenses made by an individual or company that the IRS doesn't allow to be deducted, e.g. meals. Tax exempt income is income that is not taxed by the IRS, e.g. DRD includes at least 70% of dividends received.
Deferred gains or unearned revenues are considered a liability and are not included in the income statement.