1. In 2012 J. Peterman Inc incurhd the following: points) Sales of $5.5 million o Cost of goods sold of $3 million Operating expenses of $1.25 million Interest expenses of $505.000 Dividend Income of $36,000 Paid off $1.5 million in debt Paid common stock dividends of $175.000 Paid a preferred stock dividend of $125.000 What was J. Peterman's taxable income in 2012 0 0 b. Using the tax table below, what was). Peterman's tax liability in 2012 Taxable Income SO-550,000 550.000-575,000 $75,000-5100.000 S100,000-5335.000 5335,000-$10,000,000 $10,000,000-$15,000,000 $15,000,000-$18,333 333 Over $18.333 333 Tac on Base of Bracket 50 7500 13,750 22.250 113,900 3.400.000 5.130,000 6.-16,667 Percentage on Excess abore Base AIR 1596 259 349 399 349 356 3596 359 What was J. Peterman's Net Income in 2012 b. Using the tax table below, what was J. Peterman's tax liability in 2012? Taxable Income S0-550,000 $50,000-$75.000 $75,000-$100,000 $100,000-$335.000 $335,000-$10.000.000 $10,000,000-$15.000.000 $15,000,000-$18.333.333 Over $18.333.333 Tax on Base of Bracket SO ho 7,500 15.750 22.250 113.900 3.400.000 5.150.000 62416.667 Percentage on Excess above Base MIR 1596 259 3498 3996 3498 3596 3890 5596 C. What was J. Peterman's Net Income in 20129