Beach Corporation reported the following in 2020 using the accrual method of accounting. Income: Income from operations $375,000 Dividends received from 15%-owned domestic corporation 30,000 Interest Income: Corporate bonds 15,000 Municipal bonds 18,000 Proceeds from life insurance policy on 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 2019 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 2020.