Required A Compute MV$\text{'}$s Schedule M$-1$ assuming that MV$\text{'}$s federal income tax expense for book purposes is $$100,000.$

Note: Enter all values as positive numbers.

Compute MV Corporation's $2022$ taxable income given the following information relating to its year $1$ activities.

Note: Negative amounts should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable.

$\backslash$table$[[$Description$,\backslash$table$[[$Book Income$],[($Dr$)$ Cr$]],\backslash$table$[[$Book$-$tax$],[$adjustments$],[($Dr$)]],\backslash$table$[[$Book$-$tax$],[$adjustments$],[$Cr$]],$Tax,$\backslash$table$[[$Ie Income$],[$r$)$ Cr$]]],[$Gross profit,$500,000,,,$$$,500,000],[$Other income:,,,,,$],[$Dividend income,$100,000,,,,100,000],[$Gross Income,$600,000,,,$$$,600,000],[$Expenses:$,,,,,],[$Business expenses other than DRD$,$ CC$,$ and NOL,$(350,000),,,,(350,000)],[$Federal income tax expense,$(100,000),,100,000,,],[$Total expenses before charitable contribution, NOL, and DRD$,(450,000),,,,(350,000)],[$Income before charitable contribution, NOL, and DRD$,150,000,,,$$$,250,000],[$NOL carryover from prior year,,$(10,000),,,(10,000)],[\backslash$table$[[$Taxable income for charitable contribution limitation purposes$],[($modified taxable income$)]],,,,$$$,240,000],[$Charitable contributions,$(120,000),,96,000,,(24,000)],[$Taxable income before DRD$,,,,$$$,216,000],[$Dividends received deduction $($DRD$),,,,,],[$Book$/$Taxable income,$30,000,$$$(10,000),$$$196,000,$$$,216,000]]$