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Ivan
3 years ago
7

ABC LLC reported the following items on the LLC's Schedule K: ordinary income of $100,000; interest income of $3,000; long-term

capital loss of ($4,000), charitable contributions of $1,000; AMT depreciation adjustment of $10,000, and cash distributions to partners of $50,000. How much will ABC show as net income (loss) on its Analysis of Income (Loss)
Business
1 answer:
Sophie [7]3 years ago
8 0

Answer:

$98,000

Explanation:

Use the following formula to calculate the net income

Net income = Ordinary income  + Interest income - long term capital loss  - Charitable contribution

Ordinary income  = $100,000

Interest income $3,000

Long term capital loss = $4,000

Charitable contribution = $1,000

Placing values in the formula

Net Income = 100,000 + 3,000 - 4,000 - 1,000

Net Income = $98,000

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Rufina [12.5K]

Answer:

B. S and I drop by ​$0.60 trillion.

Explanation:

We know that

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So, I = $12 trillion - $10 trillion

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As the government purchases increase from $2 trillion to $2.60 trillion

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