$($LO$1)$ Based on the following information, calculate Blitzen Corporation's taxable income and tax liability.

$\backslash$table$[[$Gross receipts,$$1,425,000,],[$Interest income,$$,2,200],[$Municipal interest income,$$,1,600],[$Capital gains,$$,16,800],[$Cost of goods sold,$$580,000,],[$Advertising expense,$$,12,000],[$Depreciation expense,$$,42,000],[$Rent expense,$$,36,000],[$Wages paid,$$,225,000],[$Utilities$,$$$,6,000],[$Entertainment expense,$$,10,000],[$Fines and penalties,$$,800],[$Other operating expenses,$$,18,000]]$