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Business, 25.11.2021 14:00 wiedm4518

Brianna owns 40% of the stock of Cassowary Corporation (a C corporation) and 40% of the stock of Emu Corporation (an S corporation). In the current year, each corporation has operating income of $120,000 (before income tax expense) and tax-exempt interest income of $8,000. Neither corporation pays any dividends during the year. Required:
How is this information reported by the corporations and Barbara for 2012?

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Brianna owns 40% of the stock of Cassowary Corporation (a C corporation) and 40% of the stock of Emu...
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