2.99 See Answer

Question: Before the provision for Federal income tax,


Before the provision for Federal income tax, Karas Corporation had book income of $400,000 for the current year. The book income included $100,000 of dividends received from a 15% owned domestic corporation. What was Karas Corporation's taxable income for the current year?
a. $300,000
b. $335,000
c. $350,000
d. $400,000