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Donor Corporation had the following income and deductions for last year: Sales $5,000,000; Cost of goods sold $3,500,000; Other operating expenses $800,000; Dividends (from 5
Donor Corporation had the following income and deductions for last year: Sales $5,000,000; Cost of goods sold $3,500,000; Other operating expenses $800,000; Dividends (from 5 percent owned domestic corporations) $100,000. Donor Corporation also made contributions (not included above) to qualifying charitable organizations of $175,000. Determine Donor Corporations taxable income for the year.
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