• What is GGPs taxable income for 2018? Show your work.
• Greco Glass Products ("GGP") is a C Corporation.
• GGP had gross revenue from sales in 2017 of $2,300,000.
• GGPs cost of goods sold for the 2017 sales was $952,000.
• GGP incurred a long-term capital loss in the amount of $48,000.
• GGP had a capital loss carryover from 2016 of $15,000.
• GGP made cash charitable contributions totaling $135,000.
• GGP made contributions to Ronald Stumps presidential campaign in the amount of $50,000