Western Corporation reports the following results for the current year (Click on the icon to view the results for the current year.) Read the requirements Requirement a. What are Western's taxable income and income tax liability for the current year? Begin by computing Western's taxable income. (If an input field is not used in the table, leave the input field empty, do not select a label or enter a zero.) Gross income Minus: Taxable income ern's taxabl Data Table axable inco Gross profits on sales Long-term capital gain $ 150,000 8,000 Long-term capital loss 15,000 Short-term capital gain 10,000 Short-term capital loss 2,000 Operating expenses 61,000 Print Done select a label or enter a axable income and income tax liability for the current year? Requirements a. What are Western's taxable income and income tax liability for the current year? b. How would your answers to Part a change if Western's short-term capital loss is $5,000 instead of $2,000? Print Done or enter a