Action, Inc. is a calendar year-end, accrual-basis C corporation. For each independent situation below, calculate line 30, taxable income (loss) of 2020 Form 1120, US Corporation Income Tax Return. Column A list preliminary taxable income excluding additional tax return items shown in column B. (48 points) Additional tax return item(s) (B) Preliminary taxable income (loss) (A) (1) $200,000 Line 30 taxable income (loss) (C) (2) $80,000 (3) $10,000 (4). ($40,000) (5). ($50,000) $17,000 of charitable contributions $10,000 of charitable contributions, $50,000 of dividends from 15%- owned domestic corporations, and $20,000 net operating loss carryover from the prior year $50,000 of dividends received from 30%-owned domestic corporation $300,000 of dividends received from 10%-owned domestic corporation, and a $18,000 net operating loss carryover from the prior year $80,000 of dividends received from 15%-owned domestic corporation $40,000 of advertising expenses to promote a new product line. Ten percent of the new product line remained in ending inventory. At its corporate inception in 2020, Action incurred and paid $50,000 in organizational costs for legal fees to draft the corporate charter. Action commenced active operation on July 1, 2020, $27,000 rent from a tenant for a three-year lease commencing January 1, 2021, to cover rents for the years 2021, 2022, and 2023 (6) $310,000 (7) $80,000 (8) $250,000 Action, Inc. is a calendar year-end, accrual-basis C corporation. For each independent situation below, calculate line 30, taxable income (loss) of 2020 Form 1120, US Corporation Income Tax Return. Column A list preliminary taxable income excluding additional tax return items shown in column B. (48 points) Additional tax return item(s) (B) Preliminary taxable income (loss) (A) (1) $200,000 Line 30 taxable income (loss) (C) (2) $80,000 (3) $10,000 (4). ($40,000) (5). ($50,000) $17,000 of charitable contributions $10,000 of charitable contributions, $50,000 of dividends from 15%- owned domestic corporations, and $20,000 net operating loss carryover from the prior year $50,000 of dividends received from 30%-owned domestic corporation $300,000 of dividends received from 10%-owned domestic corporation, and a $18,000 net operating loss carryover from the prior year $80,000 of dividends received from 15%-owned domestic corporation $40,000 of advertising expenses to promote a new product line. Ten percent of the new product line remained in ending inventory. At its corporate inception in 2020, Action incurred and paid $50,000 in organizational costs for legal fees to draft the corporate charter. Action commenced active operation on July 1, 2020, $27,000 rent from a tenant for a three-year lease commencing January 1, 2021, to cover rents for the years 2021, 2022, and 2023 (6) $310,000 (7) $80,000 (8) $250,000