Grand River Corporation reported taxable income of $510,000 in year 1 and paid federal income taxes of $110,000. Not included in the computation was a disallowed meals and entertainment expense of $2,100, tax exempt income of $1,100, and deferred gain on an installment sale of $26,000. The corporation's current earnings and profits for year 1 would be:

Au Sable Corporation reported taxable income of $780,000 in year 2 and paid federal income taxes of $177,500. Not included in the computation was a disallowed penalty of $44,000, and life insurance proceeds of $195,000. Included in the computation of taxable income is a deduction for the bargain element of exercised nonqualified stock options of 69000 The corporation's current earnings and profits for year 2 would be:

Packard Corporation reported taxable income of $1,350,000 in year 3 and paid federal income taxes of $213,500. Included in the year 3 taxable income computation was a dividends received deduction of $5,700, a net capital loss carryover from year 2 of $13500, and gain of $57,000 from an installment sale that took place in year 1. The corporation's current earnings and profits for year 3 would be:

Madison Corporation reported taxable income of $340,000 in year 2 and accrued federal income taxes of $99,000. Included in the year 2 taxable income computation were regular depreciation of $140,000 (E&P depreciation is $54,000), first year expensing under 179 of $145,000, and a net capital loss carryover of $35,000 from year 1. The corporation's current earnings and profits for year 2 would be: