business tax

11. LO 11.6 Cedar Corporation has an S corporation election in effect. During the 2018 calendar tax year, the corporation had ordinary taxable income of $200,000, and on January 15, 2018, the corporation paid dividends to shareholders in the amount of $120,000. How much taxable income, in total, must the shareholders of the corporation report on their 2018 tax returns? Explain your