(Corporate income tax) Sandersen Inc. sells minicomputers. During the past year the company's sales were $3.1 million. The cost of its merchandise sold came to $1.8 million, and cash operating expenses were $406,000; depreciation expense was $110,000, and the firm paid $155,000 in interest on its bank loans. Also, the corporation received $51,000 in dividend income but paid $24,000 in the form of dividends to its own common stockholders. Calculate the corporation's tax liability by using the corporate tax rate structure in the popup window, Calculate the gross profits. The gross profits are $1. (Round to the nearest dollar.) in the popup window, - Data Table (Click on the following icon in order to copy its contents into a spreadsheet.) Corporate Tax Rates 15% $0$50,000 25% $50,001_$75,000 34% $75,001_$10,000,000 35% over $10,000,000 Additional surtax: 5% on income between $100,000 and $335,000 3% on income between $15,000,000 and $18,333,333 Print Done