Business, 21.02.2020 22:20, CoolDudeTrist

In the current year, Pelican, Inc., a calendar year C corporation, incurs $10,000 of meals and entertainment expenses that it deducts in computing net income per the corporation's financial statements. Assume all of the meals and entertainment expenditures are subject to the 100% disallowance rule applicable to such expenditures.
1. How is the information reported on Schedule M-3?

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In the current year, Pelican, Inc., a calendar year C corporation, incurs $10,000 of meals and enter...