During the Current Year,Metcalf Corporation Has the Following Items of Income

question 85

Multiple Choice

During the current year,Metcalf Corporation has the following items of income and expense:
$\begin{array}{lr}\text { Sales } & \$ 450,000 \\\text { Cost of goods sold } & 320,000 \\\text { Dividends received } & 20,000\end{array}$
Metcalf owns 37% of the corporation that distributed the dividend to Metcalf.Determine the amount reported as income before special deductions for the current year.

• A)$130,000
• B)$134,000
• C)$150,000
• D)$454,000
• E)$470,000

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Definitions:

Attachment Researchers

Psychologists who study the psychological bonds between individuals, especially between infants and their caregivers.

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The deep emotional bond that develops between a child and their primary caregiver, which significantly affects the child's development and ability to form relationships.

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The quality of being unconventional or slightly strange in behavior or appearance.

Schizotypal

A personality disorder characterized by severe social anxiety, thought disorder, paranoid ideation, derealization, transient psychosis, and often unconventional beliefs.