Earwood Corporation, a calendar year taxpayer, receives dividend income of $140,000 from a corporation in which it holds a 35% interest. Earwood also receives interest income of $15,000 from municipal bonds. (The municipality used the proceeds from the bond issue to construct a park.) Earwood borrowed funds to purchase the municipal bonds and pays $12,000 of interest on the loan. Excluding these items, Earwood's taxable income is $320,000. a. After these items are taken into account, Earwood Corporation's taxable income is $ b. If its beginning balance this year in accumulated E & P is $90,000, then Earwood Corporation's accumulated E & P at the start of next year is $