Problem: Module 7 Textbook Problem 2 Learning Objective: 7-4 Explain the flow-through of partnership items to the partners This year, Herb Partnership generated $750,000 ordinary business income. Herb has two equal partners: Savory LLC and Sweet Corp. an S corporation. Savory LLC has three members: Mr. Parsley, an individual who owns a 40 percent interest, Mrs. Rosemary, an individual who owns a 35 percent interest, and Sage Inc, a C Corporation which owns a 25 percent interest Sweet Corp. has 100 shares of outstanding stock, all of which are owned by Ms, Mint, an individual. Required: Identify the taxpayers who must pay tax on the parthership income, and determine how much income must be reported by each. If a taxpayer does not have to pay tax due to Herb Partnership's allocated income, put "0' for the answer. Problem: Module 7 Textbook Problem 2 Learning Objective: 7-4 Explain the flow-through of portnership items to the portners This year, Herb Partnership generated $750,000 ordinary business income. Herb has two equal partners: Savory LLC and Sweet Corp., an S corporation. Savory LLC has three members. Mr. Parsley, an individual who owns a 40 percent interest; Mrs. Rosemary, an individuat who owns a 35 percent interest, and Sage inc, a C Corporation which owns a. 25 percent interest. Sweet Corp. has 100 shares of outstanding stock, all of which are owned by Ms. Mint, an individual. Required: Identity the taxpayers who must pay tax on the partnership income, and determine how much income must be reported by each. If a taxpayer does not have to pay tax due to Herb Parthership's allocated income, put " 0 " for the