Using the information below, prepare a spreadsheet calculating the taxable income and tax liability for all taxpayers with adjusted gross income below $100,000.

The spreadsheet should be flexible enough to calculate the taxable income if the taxpayer’s filing status is single or married and if the taxpayer has additional dependents.

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Number of dependents 2 Salary $80,000 Interest 10,000 Deductions for adjusted gross income 2,500 Deductions from adjusted gross income 12,000