Income:
Sales	$945,000
Interest from State of New York Bonds	3,400
Life insurance proceeds (from policy carried on the life of recently deceased corporation president)	100,000
Refund of federal income tax from previous year	12,000
Dividends on Apple stock held as an investment	5,000
Treasury stock gains	7,000
Net 1231 gains	2,000
Losses and Expenses:
Charitable contributions	70,000
Net capital losses	5,000
Federal income taxes	100,000
Fines and penalties	2,500
Life insurance premiums on policy of recently deceased corporate president	11,000
Advertising in a political brochure	600
Interest on loan proceeds used to purchase State of New York Bonds	2,800
Business entertainment	9,000
Business meals	3,000
Other operating expenses	503,000

What is Maxim Corporation's taxable income? Show all work