Several years ago, Carlos formed Marzan Enterprises, a retail company. Marzan uses the accrual method of accounting. In the current year, the corporation reported the following items:

Sales - $490,000

Cost of goods sold - $200,000

Long-term capital gain - $30,000

Tax-exempt interest received - $7,000

Salary paid to Carlos. - $80,000

Payroll tax on Carlos's salary. - $6,120

depreciation - $25,000 (21,000 - E&P Purposes)

Other operational expenses. - $89,000

Dividend distribution to Carlos - $60,000

In addition to owning 100% of marzan stock, carlos manages Marzan business and earns the $80,000 salary listed above. This salary is an ordinary and necessary business expense of the corpoartion and resonable in amount.

Calculate marzan's current year taxable income and total tax liability as well Marzan corpoation's current E&P before and after the dividend distribitopn