Watson Corporation reports the following results for the current year: Gross profits on sales Dividends from less than 20%-owned corporations Operating expenses $660,000 300,000 650,000 a. What is Watson Corporation's taxable income for the current year? b. How would your answer to Part a change if Watson's operating expenses are instead $700,000? c. How would your answer to Part a change if Watson's operating expenses are instead $770,000 and dividends are from a 25% owned corporation