US Taxation for Corporations:

On December 31, of the current year, Flash Inc. , a calendar year, accrual basis C corporation, has accrued salary payable of $50,000 to its president Jane Smith (a cash basis taxpayer). Jane owns 65% of the corporation's outstanding stock. Flash Inc.'s year end balance sheet also shows $40,000 accrued rent payable to App Inc.. Flash rents equipment from App for its delivery business. App is not a stockholder of Flash Inc. Flash Inc's net income for the current year is $300,000. Assume there is no beginning of the year balances in the accrued salary or accrued rent payable accounts. What is the Corporation's taxable income?

Please explain answer as well. Thank you!