Bronco Corporation Realizes $270,000 from Sales During the Current Year

Multiple Choice

Bronco Corporation realizes $270,000 from sales during the current year. Bronco also receives $20,000 of dividends from a 2% owned corporation. Operating expenses totals $275,000. Bronco's taxable income is

A) $(15,000)
B) $(5,000)
C) $5,000
D) $7,500
E) $15,000