Interest versus dividend income during the year just ended, Shering Distributors, Inc., had pretax earnings from operations of $ 490,000. In addition, during the year it received $ 20,000 in income from interest on bonds it held in Zig Manufacturing and received $ 20,000 in income from dividends on its 5% common stock holding in Tank Industries, Inc. Shering is in the 40% tax bracket and is eligible for 70% dividend exclusion on its Tank Industries stock. a. Calculate the firm