Response to the following problem:
Randolph Manufacturing Company, EIN (46-7299870) was organized on February 1, 1998. Randolph manufactures electronic components. Its business activity code is 3670. The offices of the company are located at 350 Mission Street, San Jose, CA 95107-4311. Randolph's financial statements are reproduced on the pages that follow. During the year Randolph made estimated federal income tax payments totaling $15,800. If there is any overpayment of taxes, the accounting department has requested that it be applied towards next year's estimated tax. Randolph paid a total of $46,600 of dividends to its shareholders during the year. Randolph preferred stock is held by 17 different shareholders, none of whom own more than 10% of the stock in the company. Randolph's two officers each own 50% of the company's common stock. June Randolph-Rivers (SSN 192-61-4122) is President of the company. Her compensation is $75,000. June's husband, Travis Rivers (SSN 819-33-1620) is Vice-President. His compensation is $66,350. During the year Randolph sold two investments. Orange County bonds purchased on July 6, 2004 were sold on November 16, 2014 for $3,215. Randolph's adjusted basis in the bonds was $3,740. Randolph sold 100 shares of National Acme common stock on March 14, 2014 for $26,300. The stock was purchased for $18,200 on May 9, 2000.