7. Aztec Clay Distributor is a family owned business that is owned by Alice, Bill, Chad and Zion. Alice and Bill are over 50. Zion is not an employee, rather a silent or somewhat silent partner. Alice and Bill are married and Chad is their 25-year-old son who has a degree in Soil Science from Dhaka University in Bangladesh. Aztec sponsors a 401(k) plan. The employee census information is in the chart below. If Aztec establishes a profit-sharing plan, what is the most that Aztec could contribute for 2023 to the profit-sharing plan? Employee 1 Ownership Salary 30% 3% 1 4% 0% 0% 0% Alice Bill Chad Dave Erin Frank Ginger Haley Irish Jen A. $91,000. B. $277,000. C. $310,000. D. $322,500. 0% 1 0% 0% 1 0% Deferral Plan Balance $20,000 $20,000 $10,000 $15,000 $15,000 $8,000 $0 $2,000 $1,000 $0 $91,000 $375,000 1 $335,000 $80,000 $180,000 $160,000 $50,000 $40,000 $30,000 $20,000 $20,000 $1,290,000 $400,000 $600,000 $150,000 $150,000 $100,000 $50,000 $10,000 $30,000 $10,000 $5,000 $1,505,000 Status Officer Officer

7. Aztec Clay Distributor is a family owned business that is owned by Alice, Bill, Chad and Zion. Alice and Bill are over 50. Zion is not an employee, rather a silent or somewhat silent partner. Alice and Bill are married and Chad is their 25-year-old son who has a degree in Soil Science from Dhaka University in Bangladesh. Aztec sponsors a 401(k) plan. The employee census information is in the chart below. If Aztec establishes a profit-sharing plan, what is the most that Aztec could contribute for 2023 to the profit-sharing plan? A. $91,000. B. $277,000. C. $310,000. D. $322,500