Greenwich Corporation Reported a Net Operating Loss of $800,000 in Year

Multiple Choice

Greenwich Corporation reported a net operating loss of $800,000 in year 1.Not included in the year 1 taxable income computation were a disallowed fine of $50,000, life insurance proceeds of $500,000, and a current-year charitable contribution of $10,000 that will be carried forward to year 2.The corporation's current earnings and profits for year 1 would be:

A) $(250,000) .
B) $(260,000) .
C) $(300,000) .
D) $(360,000) .