Carriage House Corporation had sales of $7 million last year. Costs of goods sold and operating expenses amounted to 60% of sales. Interest expense amounted to $160,000. Also, Carriage House sold 30,000 shares of Textron Company common stock for $16 a share. Carriage House had purchased these shares two years ago for $11 a share. Also, Carriage House received $50,000 in dividend income for the year. Calculate Carriage House Corporation's tax liability. $588,000 $591,150 $596,400 $554,400 $585,900 Carriage House Corporation had sales of $7 million last year. Costs of goods sold and operating expenses amounted to 60% of sales. Interest expense amounted to $160,000. Also, Carriage House sold 30,000 shares of Textron Company common stock for $16 a share. Carriage House had purchased these shares two years ago for $11 a share. Also, Carriage House received $50,000 in dividend income for the year. Calculate Carriage House Corporation's tax liability. $588,000 $591,150 $596,400 $554,400 $585,900