Final answer:
The non-separately stated income amount for the S corporation is $117,000, calculated by adding up all income streams and subtracting explicit expenses such as costs of goods sold and compensation to the shareholder.
Step-by-step explanation:
To calculate the non-separately stated income amount of an accrual-basis, calendar-year S corporation, we need to add up all streams of income and then subtract the expenses. The calculation is as follows:
- Gross receipts: $200,000
- Interest Income: $12,000
- Rental Income: $25,000
- Net long-term capital gain: $17,000
- Less: Cost of goods sold and commissions: -$127,000
- Less: Compensation paid to shareholder: -$10,000
This results in a non-separately stated income amount of $117,000 ($200,000 + $12,000 + $25,000 + $17,000 - $127,000 - $10,000).