Psi Corporation reports the following results for the current year:

View the results.

Read the requirements.

Requirement a$.$ What is Psi's taxable income for the current year? $($If an input field is not used in the table, leave the input field empty; do not enter a zero. Use parentheses or a minus sign for a

net operating loss $($NOL$).)$

Part a

Gross profit on sales

Dividends

Gross income

Minus: Operating expenses

Taxable income before dividends$-$received deduction

Dividends$-$received deduction

Taxable income $($NOL$)$

Results

Gross profits on sales

Dividends from less$-$than$-20\%-$owned domestic corporations

Operating expenses

Requirements

a$.$ What is Psi's taxable income for the current year?

b$.$ How would your answer to Part a change if Psi's operating expenses are

instead $$207,000?$

c$.$ How would your answer to Part a change if Psi's operating expenses are

instead $$232,000?$

d$.$ How would your answers to Parts a$,$ b$,$ and c change if Psi received $$60,000$

of the dividends from a $20\%-$owned corporation and the remaining $$20,000$

from a less$-$than$-20\%-$owned corporation?