In 2020 Chegg Corp had taxable income of 2.5 million on Line 30 of the Fed Form 1120.

Taxes paid to federal US is $500,000.

Book depreciation was $200,000 while tax depreciation was $500,000. This book depreciation number is appropriate for E & P purposes.

Chegg owned 10% of the stock of Apple which paid Chegg a dividend of $100,000. Thus a 50% DRD of $50,000 had been taken.

Chegg also invested in tax free bonds which earned $50,000. This of course were not included in taxable income.

Chegg had paid penalties (not deducted) of $40,000.

Meals and entertainment of $40,000 were incurred (assume NONE were deductible).

Fines of $20,000 were paid by Chegg for bribing a local official.

Chegg had donated $500,000 to local charities, but only $250,000 of a deduction was taken.

A net operating loss of $300,000 was claimed and carried forward from the tax return filed 3 years ago.

Please compute Chegg's Earnings and Profits. Write done your work.