Western Corporation, a calendar year, accrual basis corporation, reported $500,000 of net income after tax on its financial statements prepared in accordance with GAAP. The corporation’s books and records reveal the following information:• Western’s book income included $15,000 of dividends, received from a domestic corporation in which Western owns less than 1 percent of the outstanding stock.• Western’s depreciation expense per books was $55,000, and its MACRS depreciation was $70,000.• Western earned $5,000 of interest from municipal bonds and $6,000 of interest from corporate bonds.• Western’s capital losses exceeded its capital gains by $2,000.• Western’s federal income tax expense per books was $249,000.a. Compute Western’s federal taxable income and regular tax liability. b. Prepare a Schedule M-1, page 5, Form 1120, reconciling Western’s book and tax-able income.

Select the word from the list that best fits the definition sometimes

Match each of the terms below with an example that fits the term. a. fungibility the production of gasoline b. inelasticity the switch from coffee to tea c. non-excludability the provision of national defense d. substitution the demand for cigarettes

Employees at a library check out books to patrons. books have an isbn and a name. the library sometimes has multiple copies of the same book. books have one or more authors. a patron is an individual who has an active (non-expired) library card. for each library card, we store the person's first and last names and their address. for each employee, we store their employee id, current salary, first and last name and their address. we also store the employee id of their current manager. each time we check out a book to a patron we need to store the date of the transaction, the employee who checked out the book to the patron, and the library card of the patron. some employees have library cards. if an employee patron turns in a book late, the fine that they pay is a percentage of their salary. some employees are authors who have library cards—they are allowed to check out as many books as they like.