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Tax Accounting

Question 162 pts

During the tax year, Z Co. had the following items:

Gross income from operations $90,000
Dividends received$50,000
Dividends received deduction $25,000
Deductible ordinary business expenses$30,000
Contributions to capital$10,000
Federal income tax refund$40,000
Tax-exempt interest income$25,000
Charitable contributions $3,000
Straight line depreciation$7,000
Accelerated depreciation in excess of straight line$3,200
Capital losses$70,000
Capital loss carryovers$4,800
Federal income taxes paid$15,000
Net operating loss carryover$30,000

Z Co.'s current E&P is 

Group of answer choices

None of these.

$80,000

$100,000

$90,000


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