Compute MV Corp.'s 2019 taxable income given the following information relating to its year 1 activities. Also, compute MV's Schedule M-1 assuming that MV's federal income tax expense for book purposes is $100.000. Use Exhibit 16-6. Gross profit from inventory sales of $500.000 (no book-tax differences) Dividends MV received from 25 percent-owned corporation of $100,000 (assume this is also MV's pro rata share of the distributing corporation's earnings). Expenses other than DRD. charitable contribution (CC) and net operating loss (NOL), are $350.000 (no book-tax differences). NOL carryover from 2018 of $10.000 Cash charitable contribution of $120,000 Complete this question by entering your answers in the tabs below. Res 1 Reg 2 Compute MV's Schedule M-1 assuming that MV's federal income tax expense for book purposes is $100.000. Enter all valer as positive numbers.) 5 250 000 Schedule M-1 Reconciliation of income (Loss) per Books With Income per Return Net inomos) per DOOKS 2 Ferncome tax per book 35. Dapitalosses over capita in income to tax no recorded on bow this year to 5. pontes recorded on books this year no ceded on this bomize Don Lentement Compute MV Corp.'s 2019 taxable income given the following information relating to its year 1 activities. Also, compute MV's Schedule M-1 assuming that MV's federal income tax expense for book purposes is $100.000. Use Exhibit 16-6. Gross profit from inventory sales of $500.000 (no book-tax differences) Dividends MV received from 25 percent-owned corporation of $100,000 (assume this is also MV's pro rata share of the distributing corporation's earnings). Expenses other than DRD. charitable contribution (CC) and net operating loss (NOL), are $350.000 (no book-tax differences). NOL carryover from 2018 of $10.000 Cash charitable contribution of $120,000 Complete this question by entering your answers in the tabs below. Res 1 Reg 2 Compute MV's Schedule M-1 assuming that MV's federal income tax expense for book purposes is $100.000. Enter all valer as positive numbers.) 5 250 000 Schedule M-1 Reconciliation of income (Loss) per Books With Income per Return Net inomos) per DOOKS 2 Ferncome tax per book 35. Dapitalosses over capita in income to tax no recorded on bow this year to 5. pontes recorded on books this year no ceded on this bomize Don Lentement