Raymond Corporation reports the following results for the current year: (Click on the icon to view the results for the current year.) Requirement What are Raymond's taxable income and income tax liability? Begin by computing Raymond's taxable income before special deductions, then calculate the taxable income. (Enter the special deductions in the specific sequence dictated by the tax rules.) Gross income Minus: Taxable income before special deductions Minus: Taxable income Now, compute Raymond's income tax liability. (Round your answer to the nearest whole dollar.) Raymond's income tax liability is Choose from any list or enter any number in the input fields and then continue to the next question. $ 75,000 75,000 55,000 Gross profits on sales Short-term capital gain Long-term capital gain Dividends from 25%-owned domestic corporation NOL carryover from the preceding tax year Operating expenses 60,000 5,000 105,000 Raymond Corporation reports the following results for the current year: (Click on the icon to view the results for the current year.) Requirement What are Raymond's taxable income and income tax liability? Begin by computing Raymond's taxable income before special deductions, then calculate the taxable income. (Enter the special deductions in the specific sequence dictated by the tax rules.) Gross income Minus: Taxable income before special deductions Minus: Taxable income Now, compute Raymond's income tax liability. (Round your answer to the nearest whole dollar.) Raymond's income tax liability is Choose from any list or enter any number in the input fields and then continue to the next question. $ 75,000 75,000 55,000 Gross profits on sales Short-term capital gain Long-term capital gain Dividends from 25%-owned domestic corporation NOL carryover from the preceding tax year Operating expenses 60,000 5,000 105,000