Part III (7 points) Now assume that ABC is a Subchapter S corporation. Fred owns 30% of the company and Wilma owns 70% of the company. Fred was paid a $50,000 salary and Wilma was paid a $60,000 salary. A) Indicate how Fred's share of the Sub S's ordinary income and separately stated items would differ from your answer for the partnership A) What is his self-employment income from the Sub-S? B) What would be his qualified business income deduction on his individual return for the Sub- S? Part III (7 points) Now assume that ABC is a Subchapter S corporation. Fred owns 30% of the company and Wilma owns 70% of the company. Fred was paid a $50,000 salary and Wilma was paid a $60,000 salary. A) Indicate how Fred's share of the Sub S's ordinary income and separately stated items would differ from your answer for the partnership A) What is his self-employment income from the Sub-S? B) What would be his qualified business income deduction on his individual return for the Sub- S