OR D 63000 Waters Corporation is an S corporation with two equal shareholders, Mia...
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Accounting
OR D 63000
Waters Corporation is an S corporation with two equal shareholders, Mia Jones and David Kerns. This year, Waters recorded the following items of income and expense: 5 Sales revenue Interest income Long-term capital gain cost of goods sold Salary and wages Other operating expenses 500,000 6,000 10,000 (250,000) (75,000) (55,000) 01:09:45) Waters distributed $25,000 to each of its shareholders during the year. If Mia has no other sources of income, what is her gross income for the year? Multiple Choice $97,500 $68.000 $60,000
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