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Title: Lake Corporation is a personal holding company. Lake reports the following results for the current ... Post by: safezone on Feb 14, 2017 Lake Corporation is a personal holding company. Lake reports the following results for the current year:
Rental income $100,000 Operating profit 80,000 Dividend income 30,000 Interest income 20,000 Depreciation 30,000 Mortgage interest expense 18,000 Real estate taxes 8,000 Other expenses 20,000 No dividends are paid during the current year or the 2-and-one-half-month throwback period. The mortgage relates to the rental properties. Calculate the adjusted income from rents exclusion from personal holding company income. Title: Re: Lake Corporation is a personal holding company. Lake reports the following results for the ... Post by: strwbrry on Feb 14, 2017 Content hidden
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