! Required information [The following information applies to the questions displayed below.] XYZ is a calendar-year corporation that began business on January 1, 2020. For the year, it reported the following information in its current-year audited income statement. Notes with important tax information are provided below. Use Exhibit 16-6. Revenue from sales Cost of Goods Sold Gross profit XYZ corp. Income statement For current year Other income: Book Income $ 40,000,000 (27,000,000) $ 13,000,000 Income from investment in corporate stock Interest income Capital gains (losses) Gain or loss from disposition of fixed assets Miscellaneous income Gross Income Compensation Stock option compensation Advertising Expenses: 300,0001 20,0002 (4,000) 3,0003 50,000 $ 13,369,000 (7,500,000) 4 (200,000)5 (1,350,000)