A small firm expects to have sales of $2, 000, 000 in 2017. Assume its cost of goods sold equals 75% of sales and its overhead and administrative costs (its fixed costs) are $150, 000. It will claim $80, 000 in depreciation expense Assuming the firm Is a C corporation, find the firms expected Federal tax bill. Click here for tax rate schedule Suppose the firm in part a has 1000 shares of stock outstanding. The stock is owned equally by 2 owners. What is the (after tax) earnings per share? If the firm pays out half of its earnings to its shareholders as a cash dividend, while retaining the other half for reinvestment, what additional personal tax will each shareholder owe (assume their dividends are taxed at a rate of 15%)? Now assume instead that the firm was an S corporation. Owner A is married and her spouse earned a salary of 80, 000. Owner B is single and no other income. How much gross income would each owner's household report on their personal income tax forms? Did it matter whether firm Issued half its earnings as a cash distribution, or not