Jim (age 50) and Martha (age 49) are married with three dependent children. They file a joint return for 2012. Their income from salaries totals $50,000, and they received $10,000 in taxable interest, $5,000 in royalties, and $3,000 in other ordinary income. Jim and Martha's deductions for adjusted gross income amount to $3,200, and they have itemized deductions totalling $12,000. Calculate the following amounts:

a. Gross income $____________

b. Adjusted gross income $____________

c. Itemized deduction or standard deduction amount $____________

d. Number of exemptions $____________

e. Taxable income $____________

f. Income tax liability (Do not consider the alternative minimum tax covered in Chapter 6 or any credits.)