Hill Production, Inc.'s four shareholders all worked part-time for the company. Only Rowdy and Q are...

 

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Hill Production, Inc.'s four shareholders all worked part-time for the company. Only Rowdy and Q are considered officers of the corporation. Information about the shareholders is listed in the following table: Shareholder Rowdy Hill Q Hill % Ownership 2022 Wages 40% $ 25,000 40% $25,000 Shareholder/Employee 10% $ 5,200 Shareholder/Employee 10% $ 4,160 Cam Hector-Hill Alex Hill *Included in box 1 of the shareholder's Form W-2 $59,360 Title President Treasurer $50,000 A partially redacted version of page 1 of Hill Production Inc.'s Form 1120-S is provided for you. What is the correct amount to enter on line 7? $63,560 Insurance Premiums Paid $2,100* $2,100* $54,200 -- 1 Hill Production, Inc.'s four shareholders all worked part-time for the company. Only Rowdy and Q are considered officers of the corporation. Information about the shareholders is listed in the following table: Shareholder Rowdy Hill Q Hill % Ownership 2022 Wages 40% $ 25,000 40% $25,000 Shareholder/Employee 10% $ 5,200 Shareholder/Employee 10% $ 4,160 Cam Hector-Hill Alex Hill *Included in box 1 of the shareholder's Form W-2 $59,360 Title President Treasurer $50,000 A partially redacted version of page 1 of Hill Production Inc.'s Form 1120-S is provided for you. What is the correct amount to enter on line 7? $63,560 Insurance Premiums Paid $2,100* $2,100* $54,200 -- 1

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