1)Given: Builtrite had sales of $700,000 and COGS of $280,000. In addition, operating expenses were calculated at 25% of sales. Builtrite also received dividends of $40,000 and paid out common stock dividends of $25,000 to its stockholders. A long-term capital gain of $55,000 was realized during the year along with a capital loss of $70,000 a) what is the tax liability? || b)If we add to our problem that Builtrite also had $20,000 in interest expense, how much would this interest expense cost Builtrite after taxes? 2) Question 5 (This problem is not related to the above problem) Last year Builtrite had retained eamings of $140,000. This year, Builtrite had net profits after taxes of $65,000 and paid a preferred dividend of $25,000. Builtrite also received common stock dividends of $10,000 from stock owned. What is Builtrite's new level of retained earnings