1. SKS Inc., originally a C corporation with accumulated earnings and profits, elected three years ago, to be an S corporation. In the current tax year, gross receipts total $80,000, including $20,000 of passive investment income ($5,000 interest and $15,000 dividends). Expenditures directly connected with production of the passive investment income total $1,000 in broker fees. In addition, SKS has $30,000 in non-separately stated business deductions. This is a four-part question. (Round to the nearest dollar.)

Question 1: What amount of excess net passive income does SKS have in the current tax year? 

Question 2: What amount of excess net passive income (ENPI) tax does SKS owe?

Question 3: What amount of interest is reported on Schedule K (Form 1120-S) as passed through to the shareholders?

Question 4: What amount of dividends is reported on Schedule K (Form 1120-S) as passed through to the shareholders?

2. DLA Inc., an S corporation, was late filing their S corporation return for the current tax year. DLA filed its Form 1120-S on April 15, 2023, and mailed copies of the Schedule K-1s to each of its 50 shareholders on the same date. Not including the late filing penalty for Form 1120-S itself, what amount of additional penalty may be imposed on DLA Inc.?