Question #1 (Working with the income statement) GMT Transport Company ended the year with record sales of $18 million. The firm's cost of goods sold totaled $10.8 million while its operating expenses (including depreciation) totaled $4 million. GMT paid $1.5 million in interest expense and had an income tax li-ability of $595,000. What is the firm's net income for the year? Question #2 (Working with the income statement) If GMT Transport Company (from the previous problem) plans to reinvest $1 million of its earnings back in the firm and pay out the remainder in cash dividends to the firm's shareholders, what is the total amount of the cash dividend