Homework Answers
a) Gross Profit $82,176,042
LESS: Net Operating Loss $24,439,446
(From 2015)
ADD: Dividends Received $179,000
LESS: Operating Expenses $57,690,750
ADD: Capital Gain $9,346,247
LESS: Capital Losses $8,911,634
LESS: Charitable Contributions $6,533,611
________________________________
Net Operating Loss (Present) $5,874,152
_________________________________
Corporation Taxation Income is in loss and there is no taxable income in this year because of loss.
b) Net Operating loss is available for carryovers is $5,874,152.
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