Carolyn has an agi of $38,000 (all from earned income), two qualifying children, and is filing as a head of household. what amount of earned income credit is she entitled to?
a) $0b) $1,476c) $3,400d) $4,140e) $5,616

The correct answer to the following question is option E) $5616 .

Explanation:

The (EIC) earned income credit is a type of credit which is very useful for those people who have low income, because this amount is refundable, even in the cases where the amount wasn't due for you. Any person whether he or she is single or married with or without children can be qualified for this credit. And in the given case Carolyn who is filling as a head of household , with two qualifying children and her Annual gross income is $38,000, therefore as per income and number of qualifying children she will receive $5616.

what

explanation:

income statement is prepared in order to show the profits and loss of a business. in order to prepare the income statement she should collect all the income and expenses of the product with the cost of production.