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Brighton, Inc. is currently a C corporation. Brighton has 10 shareholders and has substantial amounts in retained earnings from previous years. Brightons officers are considering

Brighton, Inc. is currently a C corporation. Brighton has 10 shareholders and has substantial amounts in retained earnings from previous years. Brightons officers are considering becoming an S corporation. Describe the process Brighton will need to undertake to become an S corporation and list the advantages and disadvantages of this change in business form.

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