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Crane and Loon corporations, two unrelated calendar year C corporations, have the following transactions for...

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Accounting

Crane and Loon corporations, two unrelated calendar year C corporations, have the following transactions for the current year. CraneLoonGross income from operations$180,000 $300,000 Expenses from operations255,000310,000 Dividends received from domestic corporations (15% ownership)100,000230,000

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