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Vail Book Mart sells books and other supplies to students in a state where the sales tax rate is 6 percentVail engaged in the following

Vail Book Mart sells books and other supplies to students in a state where the sales tax rate is 6 percentVail engaged in the following transactions during the yearSales tax of 6 percent is collected on all sales 1. Book sales, not including sales tax, for the year amounted to $278,000 cash 2. Cash sales of miscellaneous items for the year were $148,000, not including tax 3. Cost of goods sold was $212,000 for the year 4. Paid $129,000 in operating expenses for the year 5. Paid the sales tax collected to the state agency. 1. what is the total amount of sales tax vail book mart collected & paid for the year? 2. what is the vail book marts net income for the year?

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