CCH Federal Taxation

79. Comprehensive Problem. An S corporation has the following information:

Sales $100,000

Dividend Income $1,500

Tax-exempt interest $2,500

Long-term capital gains $4,000

Short-term capital gains $1,800

Cost of Goods sold $50,000

Advertising expense $3,000

Charitable contributions $1,000

Interest expense $2,000

Salary expense $25,000

Other operating expenses $8,000

Compute the S corporation's taxable income for the year. Please don't just give the final number. Please include the labeled tabulations to show how you got the final number. Thank you.