1.

Fred owns stock in a C corporation that generates $75,000 of annual revenue for him. His investment related annual expenses for this C corporation are $15,000. He is also an employee at another business where his annual salary is $55,000 and he has $10,000 of business related expenses. Determine the amount of Freds take home money. All income tax rates = 25%. To receive credit for this problem you must show the steps to arrive at the answer. No work steps, no credit. Work steps, possible partial credit.

2.

Ginger is a limited partner in a business that generates $75,000 of annual revenue for her. Her business related annual expenses for this business are $15,000. She is also an employee at another business where her annual salary is $55,000 and she has $10,000 of business related expenses. Determine the amount of Gingers take home money. All income tax rates = 25%.

To receive credit for this problem you must show the steps to arrive at the answer. No work steps, no credit. Work steps, possible partial credit.