Robin Corporation Has Ordinary Income from Operations of $30,000,net Long-Term

question 61

Multiple Choice

Robin Corporation has ordinary income from operations of $30,000,net long-term capital gain of $10,000,and net short-term capital loss of $15,000.What is the taxable income for 2015?

• A)$25,000
• B)$27,000
• C)$28,500
• D)$30,000
• E)None of the above

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Definitions:

Average Total Assets

The mean value of all the assets owned by a company over a specific time period.

Return on Total Assets

A financial ratio that measures the efficiency of a company's use of its assets to generate profit, calculated by dividing net income by total assets.