Ann is the sole shareholder of Salmon Corporation, a newly formed C corporation. Fran is the sole shareholder of Scarlet Corporation, a newly formed C corporation that is a personal service corporation. Both Ann and Fran plan to have their corporations elect a March 31 fiscal year-end. Complete the following statement regarding whether the IRS will treat both corporations alike with respect to the fiscal year election. can elect a March 31 fiscal year-end, but exception to qualify for a March 31 fiscal year-end. would need to satisfy the