PLEASE HELP GET THE CORRECT ANSWERS FOR THE ONES MARKED X ON THE IMAGE

Required Information

While James Craig and his former classmate faul Dolittle both studied accounting at school, they ended up pursuing careers in professlonal cake decorating. Thelr company, Good to Eat $($GTE$),$ specializes In custom$-$sculpted cakes for weddings, birthdays, and other celebrations. James and Paul formed the business at the beginning of $2022,$ and each contributed $$170,000$ in exchange for a $50$ percent ownership interest. GTE also borrowed $$680,000$ from a local bank Both James and Paul had to personally guarantee the loan. Both owners provide significant services for the business. The following information pertalns to GTE's $2022$ activitles:

GTE uses the cash method of accounting $($for both book and tax purposes$)$ and reports income on a calendar$-$year basls.

GTE recelved $$1,050,000$ of sales revenue and reported $$490,000$ of cost of goods sold $($It did not have any ending Inventory$).$

GTE pald $$90,000$ compensation to James, $$90,000$ compensation to Paul, and $$100,000$ of compensation to othe employees $($assume these amounts include applicable payroll taxes, If any$).$

GTE paid $$27,000$ of rent for a building and equipment, $$32,000$ for advertising, $$47,600$ in interest expense, $$5,200$ GTE contributed $$11,000$ for supplies.

GTE recelved a $$3,400$ qualified dividend from a great stock investment $($It owned $2$ percent of the corporation distributing the dividend$),$ and it recognized $$2,700$ in short$-$term capital galn when it sold some of the stock.

On December $1,2022,$ GTE distributed $$32,000$ to James and $$32,000$ to Paul.

GTE has quallified property of $$312,000($unadjusted basis$).$

Note: Leave no answers blank. Enter zero if applicable. Enter N$/$A if not applicable.

c$-1.$ Assume James and Paul formed GTE as a C corporation.

Complete GTE's Form $1120,$ page $1$

Note: Use $2022$ tax rules regardless of year on tax form.

Form $1120$

Complete GTE's Form $1120,$ page $1.$

$4.4.$ What amount of tax does GTE pay on the $$3,400$ qualified dividend it received?

Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.

Answer is complete but not entirely correct.