Interest versus dividend income During the year just ended, Shering Distributors, Inc., had pretax earnings from operations of $495,000. In addition, during the year it received $30,000 in income from interest on bonds it held in Zig Manufacturing and received $30,000 in income from dividends on its 6% common stock holding in Tank Industries, Inc. Shering is in the 40% tax bracket and is eligible for a 70% dividend exclusion on its Tank Industries stock. a. Calculate the firm's tax on its operating earnings only. b. Find the tax and the after-tax amount attributable to the interest income from Zig Manufacturing bonds. c. Find the tax and the after-tax amount attributable to the dividend income from the Tank Industries, Inc., common stock. d. Compare, contrast, and discuss the after-tax amounts resulting from the interest income and dividend income calculated in parts b. and c. e. What is the firm's total tax liability for the year? . a. The tax on operating earnings is $ 198000. (Round to the nearest dollar.) b. Complete the table below to compute the tax and the after-tax amount attributable to the interest income: (Round to the nearest dollar.) Interest Income Before-tax amount Less: Applicable exclusion Taxable amount Tax (40%) $ After-tax amount $