1. An incorporator files articles of incorporation with stock entries totalling 75,000 , of which 65% are common stock and 35% are preferred stock. What are the amount of: Common stock authorized Preferred stock authorized Capital stock 2. A corporation has the following business results at the end of the year: Room Sales $125,000, Rental income $15,000, non-taxable dividend income $35,000, and business expenses $80,000. What is the business's taxable income? 3. Calculate cost of sales, gross profit, and operating income from the following information