Problem 28-24 (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. a. How much income is each beneficiary entitled to receive? Feedback Check My Work A critical value that is used in computing the amount of the entity's distribution deduction is distributable net income (DNI). As it is defined ir Subchapter J, DNI serves several functions. b. What is the trust's DNI? c. What is the trust's taxable income? $ Feedback Check My Work Incorrect d. How much gross income is reported by each of the beneficiaries? $