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please answer the following question:

OSAMA Corporation had sales during the past year of $2million. Its cost of goods sold was $1.2 million and its operating expense were $400,000, interest expense on outstanding debts were $100,000 and the company paid $40,000 in preferred stock dividends. The firm sold a piece of land for $40,000 whos originally cost was $30,000. The corporation received $10,000 dollars in stock dividends from investing in other firm and interest income earned was $12000. Determine the firms taxable income, its tax liability and net income. Tax Slabs 15% $ 0 $50,000 25% $50001 $75000 34% $75001 $10,000,000 35% over $10,000,000 B) Why do we pay tax? What are the objectives of Income Taxation? When corporation receives a dividend from another corporation, how it is treated?