Ms. Xie, who is in the 37 percent tax bracket, is the sole shareholder and president...

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Ms. Xie, who is in the 37 percent tax bracket, is the sole shareholder and president of Xenon. The corporation's financial records show the following: Gross income from sales of goods Operating expenses Salary paid to Ms. Xie $1,635,000 (945,000) (315,000) (215,000) Dividend distributions Required: a. Compute the combined tax cost for Xenon and Ms. Xie. (Ignore payroll tax.) b. How would your computation change if Ms. Xie's salary was $530,000 and Xenon paid no dividends? Complete this question by entering your answers in the tabs below. Required A Required B Compute the combined tax cost for Xenon and Ms. Xie. (Ignore payroll tax.) Amount Xenon's tax $ 375,000 Ms. Xie's tax on salary 138,750 Ms. Xie's tax on dividend 43,000 Total income tax cost $ 556,750 Required A Required B > Ms. Xie, who is in the 37 percent tax bracket, is the sole shareholder and president of Xenon. The corporation's financial records show the following: Gross income from sales of goods Operating expenses Salary paid to Ms. Xie $1,635,000 (945,000) (315,000) (215,000) Dividend distributions Required: a. Compute the combined tax cost for Xenon and Ms. Xie. (Ignore payroll tax.) b. How would your computation change if Ms. Xie's salary was $530,000 and Xenon paid no dividends? Complete this question by entering your answers in the tabs below. Required A Required B Compute the combined tax cost for Xenon and Ms. Xie. (Ignore payroll tax.) Amount Xenon's tax $ 375,000 Ms. Xie's tax on salary 138,750 Ms. Xie's tax on dividend 43,000 Total income tax cost $ 556,750 Required A Required B >