Potter Corporation Reports the Following Results for the Current Year

question 61

Essay

Potter Corporation reports the following results for the current year:
$\begin{array}{ll}\text { Operating income }&\$40,000\\\text { Dividend income } & 35,000 \\\text { Interest income } & 25,000 \\\text { Other expenses } & 25,000 \\\text { Passive income-related expenses } & 20,000\end{array}$ At the end of the year,Potter's Subchapter C E&P is $50,000.What is the amount of Potter's excess net passive income?

---

Definitions:

Misrepresentation

The act of giving a false or misleading account of the nature of something, often to deceive or mislead.

Artificial Testimonials

Fake or fabricated reviews and endorsements meant to mislead consumers about the quality or effectiveness of a product or service.

Broadcasting Mindset

An approach or mentality focused on distributing information widely across various media platforms to reach a large audience.

Publishing

The act of producing and distributing literature, music, or information—the activity of making content available to the public.