(Corporate income tax) The Robbins Corporation is an oil wholesaler. The company's sales last year were $1.01 million, with the cost of goods sold equal to $640,000. The firm paid interest of $211,000, and its cash operating expenses were $127,000. Also, the firm received $38,000 in dividend income while paying only $12,000 in dividends to its preferred stockholders. Depreciation expense was $155,000. Compute the firm's tax liability by using the corporate tax rate structure in the popup window, Based on your answer, does management need to take any additional action? Calculate the gross profits. The gross profits are $ 370,000. (Round to the nearest dollar.) Calculate the taxable dividend income. The taxable dividend income is $ 11,400. (Round to the nearest dollar.) Calculate the taxable ordinary income. The taxable ordinary income is $ (Round to the nearest dollar.) (Corporate income tax) The Robbins Corporation is an oil wholesaler. The company's sales last year were $1.01 million, with the cost of goods sold equal to $640,000. The firm paid interest of $211,000, and its cash operating expenses were $127,000. Also, the firm received $38,000 in dividend income while paying only $12,000 in dividends to its preferred stockholders. Depreciation expense was $155,000. Compute the firm's tax liability by using the corporate tax rate structure in the popup window, Based on your answer, does management need to take any additional action? Calculate the gross profits. The gross profits are $ 370,000. (Round to the nearest dollar.) Calculate the taxable dividend income. The taxable dividend income is $ 11,400. (Round to the nearest dollar.) Calculate the taxable ordinary income. The taxable ordinary income is $ (Round to the nearest dollar.)