Problem 28-22 (Algorithmic) (LO. 2, 3) The Allwardt Trust is a simple trust that correctly uses the calendar year for tax purposes. Its income beneficiaries (Lucy and Ethel) are entitled to the trust's annual accounting income in shares of one-half each. For the current tax year, Allwardt reports the following. Ordinary income $615,000 Long-term capital gains, allocable to corpus 184,500 Trustee commission expense, allocable to corpus 30,750 a. How much income is each beneficiary entitled to receive? 399,750 X b. What is the trust's DNI? 768,750 X c. What is the trust's taxable income? 674,200 X d. How much gross income is reported by each of the beneficiaries? 337,100 x