Assume the same facts as in problem 85, except that Irehoes income consists solely of commissions from

Question:

Assume the same facts as in problem 85, except that Irehoe’s income consists solely of commissions from selling farm equipment manufactured and distributed by Smile to foreign buyers.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...