Determine Chelsea Corporation's tax owed or refund due if it made estimated tax payments of $15,000. Chelsea Corporation (34 Chelsea Drive, Sarasota, Florida, 33456) is a calendar-year corporation; its EIN is 78-9999999 and it was incorporated on June 15, 2003. It reported the following for the current year: Sales = $1,450,000 Pension contributions = $28,000 Cost of sales = $625,000 Business meals = $12,000 Officers compensation = $187,000 Utilities = $21,000 Salary and wages = $266,000 Repairs and maintenance = $14,000 Rent expense = $48,000 Vehicle expenses = $34,000 Taxes = $87,000 Insurance = $30,000 Depreciation = $34,000 Employee benefit plans = $17,000