At the beginning of 2017, Green Corp. had accumulated E&P of $2,000,000, and at the end of 2017, Green Corp. had a current E&P of $500,000. Only use the numbers and computations below. Do not account for organizational expense deduction, dividend distribution or charitable contribution deduction by Green Corp.

Gross receipts from merchandise sales: $5,000,000

Employee salaries: $2,000,000

COGS: $1,000,000

Interest income from Hawaii municipal bonds: $12,000

Bribes to intergalactic police: $300,000

Advertising/Marketing: $20,000

Deep space usage fees: $10,000

Rental income from 2 floors of Office Building: $20,000

Utilities, telephone, internet & satellite expenses: $50,000

Federal estimated tax payments: $100,000

Total qualified meals expenses: $200,000

Dividend Income from Titan, Inc,: $50,000

Long-term Capital Losses: $800,000

Ordinary Income from Sales of 1231 Assets: Your computation

Sec. 179 Deduction (do NOT include carryback): Your computation

Long-term Capital Gains from Sales of 1231 assets: Your computation

DRD: Your computation

Work Opportunity Credit: Your computation

Foreign Tax Credit: Your computation

Compute Avengers net taxable income for 2018.

56) What is Greens accumulated E&P on January 1, 2018?

57) Compute Greens current E&P as of December 31, 2018

58) What is Greens accumulated E&P on January 1, 2019?

#59) What is Greens tax owed/refund for the 2018 tax year?

#60) What are the names and amounts of the carryforwards and/or carrybacks for Green Corp. that cannot be used in 2018?