Question: help 5. During the current year, Darth Sidious is the chief executive officer of Empire Corp. Darth Sidious owns 40% of the common stock of

help

5. During the current year, Darth Sidious is the chief executive officer of Empire Corp. Darth Sidious owns 40% of the common stock of Empire Corp. Darth Sidious's salary is $80,000 and he receives a $40,000 bonus. Empire Corp. has taxable income of $150,000 and pays $60,000 in cash dividends. Darth Sidious has I $144,000 of gross income if Empire Corp. is a C corporation II. $180,000 of gross income if Empire Corp. is an S corporation A. Only statement I is correct. B. Only statement II is correct. C. Both statements are correct. D. Neither statement is correct. E. Give up. I don't need points

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