Oakland Corporation Reported a Net Operating Loss of $500,000 in 20X3

Oakland Corporation reported a net operating loss of $500,000 in 20X3 and elected to carry the loss forward to 20X4. Not included in the computation was a disallowed meals and entertainment expense of $20,000, tax-exempt income of $10,000, and deferred gain on an installment sale of $250,000. The corporation's current earnings and profits for 20X3 would be:

A) ($500,000)
B) ($720,000)
C) ($510,000)
D) ($260,000)