Stock in Random Corporation is owned equally by two individual shareholders. During the current year, Random reports the following results:

Income Rentals: $200,000 Dividend (from a 25% owned domestic corporation): 30,000 Taxable interest: 15,000 Short-term capital gains: 3,000 Long-term capital gains: 17,000

Expenses related to rental income Interest: $30,000 Depreciation: 32,000 Property taxes: 11,000 Other Sec. 162 expenses: 50,000

General and administrative expenses: 10,000 Dividend paid on June 30: 15,000

undistributed PHC income (UPHCI) and PHC tax liability