Beach Corporation reported the following in 2019 using the accrual method of accounting.

Income:

Income from operations Dividends received from 15%-owned $375,000

domestic corporation 30,000

Interest Income:

Corporate bonds 15,000

Municipal bonds Proceeds from life insurance policy on 18,000

key employee (cash surrender value $25,000) 150,000 Expenses:

Expenses from operations 165,000

Depreciation: MACRS 130,000

Alternative Deprec. System 63,000

NOL Carryforward from 2018 60,000

Total entertainment expense 13,200

Capital loss on sale of stock 1,800 Based on the above, Beach determined its taxable income is $50,000 and its Federal income tax for the current year is $10,500. In the space below and/or on an additional page, calculate Beach's Current Earnings & Profits for 2019.