Problem 17-47 (LO. 5) The following information for 2021 relates to Sparrow Corporation, a calendar year, accrual method taxpayer: Net income per books (after-tax) Federal income tax experse per books Tax-exempt interest income $205,050 55,650 4,500 MACRS depreciation in excess of straight-line depreciation used for financial statement purposes 7,200 Excess of capital loss over capital gains 9,400 Nondeductible meals and entertainment 5,500 Interest on loan to purchase tax-exempt bonds 1,100 a. Regarding items that would be added back on the M-1 schedule, label either "Yes" (it would be added back to net income per books) or "No" (it would not be). Federal income tax per books Excess of capital loss over capital gains Tax-exempt interest income Excess of MACRS over book depreciation, Interest on loan to purchase tax-exempt bonds Nondeductible meals and entertainment b. Sparrow's taxable income for 2021 is s 265,000 V. Yes Yes No No Yes Yes