Beta Corporation has been in business for two years. It incurred the following items last year (Year 1) Beta reported the following hems this year (Year 2) (Click the icon to view the items for Year 1.) (Click the icon to view the items for Year 2) Requirement Compute Beta's taxable income and ability for Year 1 and Year 2 Begin by computing Beta's tacable income for Year 1. (If an input field is not used in the table, leave the input field emply do not seleda label or enter a zero) Gross profit on sales Data Table -X Dividends received Gross income Minus Operating expenses $ 320,000 Gross profits on sale Operating expenses Long-term capital gain Short-term capital loss 110.000 7.000 10.000 Taxable income Now, compute Beta's income tax liability for Year 1 Print Beta's Income tax liability for Year 1 is Done Choose from any list or enter any number in the input fields and then continue to the next question Save for Later