Biolsi Corporation, a C corporation, has one shareholder, Donna Biolsi earned $300,000 net profit during the current year and distributed $180,000 to Donna. Biolsi has a total of $105,000 of Earnings and Profits. Donna's basis in her stock is $100,000. Assume that Biolsi's tax rate is 30% Also assume that Donna's marginal tax rate are 25% therefore the dividend rate would be 15%. What is the impact based on these facts to Biolsi and Donna? Explain your answer How would your answer change if this was an S corporation? Note, that with an S Corp, net income increases the basis of the shareholders therefore Donna's basis would be $400,000 prior to any distributions. Explain your answer Edit Format Table 12pt Paragraph BIUALT working through losses deductions, and credits. Then, it pays