Determine taxable income in each of the following instances. Assume that the corporation is a C corporation and that book income is before any income tax expense.

Required:

Book income of $$50,000$ including capital gains of $$2,000,$ a charitable contribution of $$1,000,$ and meals expenses of $$3,000.$

Book income of $$92,000$ including capital losses of $$3,000,$ a charitable contribution of $$12,000,$ and meals expenses of $$4,000.$

Book income of $$76,000$ including municipal bond interest of $$2,000,$ a charitable contribution of $$5,000,$ and dividends of $$3,000$ from a $10\%$ owned domestic corporation. The corporation also has a $$8,000$ charitable contribution carryover.

Book income of $$129,000$ including municipal bond interest of $$2,000,$ a charitable contribution of $$5,000,$ and dividends of $$7,000$ from a $70\%$ owned domestic corporation. The corporation has a capital loss carryover of $$6,000$ and a capital gain of $$2,500$ in the