Goss Corporation is a leading manufacturer of hangers for the laundry and dry cleaning industry. The family-owned business has prospered for many years and has generated approximately $100 million of sales and $8 million in after-tax profits. Your accounting firm has performed the audit and tax work for Goss and its executives since the company was created many years ago. The advent of plastic hangers and improved fabrics has kept the company’s market share constant, and the corporation plans no major plant expansions or additions. Salaries paid to corporate executives, most of whom are family members, are above the national averages for similar officers. Dividend payments in recent years have not exceeded 10% of the after-tax profits. On December 1 of the current year, you were assigned to oversee the preparation of the current year Goss tax return. In undertaking the assignment, you review Goss tax returns for the past three years
