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Washington Plaza, Inc. reported the following activity during the year: Gross Profit $82,176,042 Dividends Received from 24% owned domestic corporation $179,000 Operating Expenses $57,690,750 Capital

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Washington Plaza, Inc. reported the following activity during the year: Gross Profit $82,176,042 Dividends Received from 24% owned domestic corporation $179,000 Operating Expenses $57,690,750 Capital Gains $9,346,247 Capital Losses $8,911,634 Charitable Contributions $6,533,611 In addition, the corporation has a net operating loss carryforward from 2015 amounting to $24,439,446. a) How much is the corporation's taxable income and tax liability this year? (30 points) b) What carryovers are available to the corporation in future years? (10 points) gross profit Dividenc 24% Capital Gun 82,176,042 0 179,000 6 434613

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