Murrelet Corporation Is a Calendar Year Taxpayer That Holds S

Murrelet Corporation is a calendar year taxpayer that holds S status.For the current year,it had the following transactions:
$\begin{array}{lr}\text { Sales } & \$ 500,000 \\\text { Cost of goods sold } & (400,000) \\\text { Interest on City of Charlotte bonds } & 5,000\\ \text { Capital gains and losses}\\ \text {Long-term gain (securities held as investments) }&8,000\\ \text {Long-term gain (antique car collection) }20,000\\ \text { Short-term loss}&(2,000) \\ \text { Charitable contributions}&(4,000)\\ \text {Dividends received from another corporation (1\% ownership) }&9,000\\ \text { Amortization of organizational expenditures}&(1,000)\\ \text {Payroll expenses }&(80,000)\\\end{array}$
a.What is Murrelet Corporation's taxable income?
b.What are the separately stated items?