Arthur is the sole shareholder of a regular C corporation and Jane owns a sole proprietorship. In the current year, both businesses make a profit of $120,000, and each owner withdraws $75,000 from their business. With respect to this information, which of the following statements is incorrect? a. Jane must report $120,000 of income on their tax return. b. Jane's proprietorship is not required to pay its own income tax, separate from Jane, on it's $120,000 of profit. c. Arthur's corproation must pay income tax on $120,000. d. None of the choices presented are correct. e. Arthur must report $120,000 of income on their tax return