Bidden, Inc ​
Calculate Bidden's Nonseparately Computed Income

question 10

Essay

Bidden, Inc., a calendar year S corporation, incurred the following items. $\begin{array}{lr}\text { Sales } & \$ 130,000 \\\text { Depreci ation recapture income } & 12,000 \\\text { Short-term capital gain } & 30,000 \\\text { Cost of goods sold } & (42,000) \\\text { Municipal bond interest income } & 7,000 \\\text { Administrative expenses } & (15,000) \\\text { Depreciation expense } & (17,000) \\\text { Charitable contributions } & (14,000)\end{array}$ ​
Calculate Bidden's nonseparately computed income.

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Definitions:

Contest

A competition or challenge where individuals or groups compete against each other to achieve a particular objective.

Counterpoint

A technique in music wherein two or more voices independently harmonize with each other.

Stratification

The arrangement or classification of something, often society, into different groups or layers based on characteristics like wealth, race, or social status.

Capitalist Societies

Societies characterized by private or corporate ownership of capital goods, by investments determined by private decision, and by prices, production, and the distribution of goods determined mainly by competition in a free market.