Question: Kyle is trying to decide what to do with the after-tax proceeds from the sale of the old Shadow property. Which of the following statements

Kyle is trying to decide what to do with the after-tax proceeds from the sale of the old Shadow property. Which of the following statements are true? 1. If he leaves the proceeds in the company, it will be exposed to the company's creditors. 2. He can withdraw the entire proceeds from the company tax-free as a capital dividend. 3. If he leaves the sales proceeds in the corporation and uses it to purchase a portfolio of investments, any dividend income received by Shadow Ltd. will be subject to a refundable Part IV tax. 4. If he withdraws the proceeds from the company as dividends, it will reduce the company's taxable income

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