I'VE IS a calendar- year corporation that began BUSINESS on January 1. coli. For COTO, It REPORTEd the following "formation in its current year audited income statement . Notes with important tax information are provided BELOW . our deliverable is to submit the following below in an excel spreadsheet . 1 . Reconcile book income to taxable income and identify each book-tax difference as temporary or permanent . 2 . Compute XYZ's income tax liability . XYZ Corp {look to Tax Income statement Book Adjustments Taxable For current year INCOME [T . ) LT . Income REVENUE from sales 540,000,000 Cost of Goods Sold | 27.000,000 ) Gross profit $ 13,000, 000 Other income " Income from investment in* corporate stock 300,0001 Interest income 20,0007 Capital gains ( losses ) ( 4. 000 ) Gain or loss from* disposition of fixed assets 3,000 3