Divine Corporation (an S corporation) has Subchapter C accumulated earnings and profits of $20,000 and for the current year has gross receipts of $80,000, of which $50,000 is interest income. Expenses incurred in the production of this passive income totaled $10,000. How much is Divine Corporation's Excess Net Passive Income

The following are line items from the horizontal analysis of an income statement:increase/ (decrease) increase/ (decrease) 2017 2016 amount percent fees earned $120,000 $100,000 $20,000 20% wages expense 50,000 40,000 10,000 25 supplies expense 2,000 1,700 300 15 which of the items is stated incorrectly? a. fees earned b. supplies expense c. none of these choices are correct. d. wages expense