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ACCTG 321 University of Washington Current Earnings and Profits of Apple Question
I don’t understand this Accounting question and need help to study.
Apple Corporation had $100,000 in taxable income which included $27,500 of dividends from a 30% owned corporation. In addition, Apple Corporation had $10,000 of tax-exempt income and of the corporations $7,950 of charitable contributions, only $3,000 were deductible in 2020. What is Apple Corporation’s current earnings & profits?
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