Homework: M... Question 7, PC:3-47 (bo... Part 1 of 5 HW Score: 43.28%, 17.31 of 40 points O Points: 0 of 5 Say Western Corporation reports the following results for the current year Click on the icon to view the results for the current year) Read the requirements Requirement a. What are Wester's taxable income and income tax liability for the current year? Begin by computing Western's taxable income. It an input field is not used in the table, leave the input field empty, do not select a label or enter a zero) Gross income Minus: Taxable income ern's taxabil Data Table axable incol select a label or enter a $ 150,000 8,000 15.000 Gross profits on sales Long-term capital gain Long-term capital loss Short-term capital gain Short-term capital loss Operating expenses 10,000 2,000 61,000 Print Done axable income and income tax liability for the current year? or enter a Requirements a. What are Western's taxable income and income tax liability for the current year? b. How would your answers to Part a change if Western's short-term capital loss is $5,000 instead of $2,000? Print Done