2. In 2019 Emmet owns 30% of Kragle & Associates. Kragle & Associates is a law firm and distributes to Emmet $100,000. The firm has sales income of 3.600,000 and operating expenses of $2,000,000. The firm has property with an adjusted basis of $900,000 and paid W2 wages for the year of $600,000. Emmet is married and his taxable income (excluding any income from Kragle & Associates) is $450,000. For each independent scenario below, discuss how the entity will be taxed and how Emmets individual tax return will be affected by the income from Kragle & Associates. (6 points)

a. Kragle & Associates is a C-Corporation

b. Kragle & Associates is a Partnership

c. Kragle & Associates is an LLC, if you need more information please indicate what information you would need.

d. How would your answer change (or not change) in part b if they were a manufacturing company instead of a law firm?