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Greg Corporation,an Accrual Method Taxpayer,had Accumulated Earnings and Profits of $300,000

question 22

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Greg Corporation,an accrual method taxpayer,had accumulated earnings and profits of $300,000 as of December 31,last year.For its current tax year,Greg's books and records reflect the following: Greg Corporation,an accrual method taxpayer,had accumulated earnings and profits of $300,000 as of December 31,last year.For its current tax year,Greg's books and records reflect the following:   Based on the above,what is the amount of Greg Corporation's current earnings and profits for this year? A) $120,500 B) $122,000 C) $124,500 D) $129,500 Based on the above,what is the amount of Greg Corporation's current earnings and profits for this year?

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