Vail Book Mart sells books and other supplies to students in a state where the sales tax rate is 8 percent. Vail engaged in the following transactions during the year. Sales tax of 8 percent is collected on all sales. 1. Book sales, not including sales tax, for the year amounted to $273,000 cash. 2. Cash sales of miscellaneous items for the year were $146,000, not including tax. 3. Cost of goods sold was $210,000 for the year. 4. Paid $130,000 in operating expenses for the year. 5. Paid the sales tax collected to the state agency. Required: a. What is the total amount of sales tax Vail Book Mart collected and paid for the year? b. What is the Vail Book Mart's net income for the year