Final answer:
The question seems to be about the current financial reporting of Lone Star Company, likely referring to its current earnings or expenses. These financial metrics are crucial for accurately determining the company's taxable income for the calendar year.
Step-by-step explanation:
The student's question pertains to Lone Star Company's financial reporting, specifically mentioning the current earnings report for the calendar year. Without additional context, it's unclear what "current e?" refers to, but it likely is an abbreviation for either current earnings, current expenses, or a related financial metric. For accurate financial reporting within a business context, current earnings would reflect the net income earned over the current year, not including any deferred taxes, one-time gains or losses, or extraordinary items. Current expenses, on the other hand, would represent the company's costs incurred during the year for its operations. It's important for the corporation to properly categorize all its income and expenses to determine its taxable income and fulfill its tax obligations accurately.