Obispo,Inc

question 18

Short Answer

Obispo,Inc.,a U.S.corporation,received the following sources of income during 2017:
$20,000 interest income from a loan to its 100 percent owned U.S.subsidiary.
$30,000 dividend income from its 100 percent owned Canadian subsidiary.
$50,000 royalty income from its Irish subsidiary for use of a trademark within the United States.
$40,000 rent income from its Dutch subsidiary for use of a warehouse located in Belgium.
$3,000 capital gain from sale of stock in its 40 percent owned Mexican joint venture.Title passed in the United States.
What amount of foreign source income does Obispo have in 2017?

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Definitions:

Gender Roles

The social and behavioral norms that are considered culturally appropriate for individuals based on their perceived sex.

Playground Norms

refers to the unspoken rules and behaviors that are accepted and followed by children in playground settings, shaping interactions and social learning.

Sissy

A pejorative term used to describe a person, typically a man, who is perceived as weak, effeminate, or cowardly.

Repressed Homosexuality

A condition where an individual's homosexual desires are denied or kept hidden due to various pressures.