Dobbins Corporation (a C Corporation) has the following information for the current year:

Sales Revenue $168,000

Municipal Bond Interest $17,500

Depreciation-Tax $9,000

Depreciation- Book $4,000

Meals Expenses $2,000

Fine Paid $800

1. Calculate book income (before tax expense).
2. Calculate taxable income.
3. Reconcile Book Income to Taxable Income, showing each of the book-tax differences as a separate line item. (Hint: Start with Book Income and then add or subtract each book-tax difference to arrive at Taxable Income.)