Client Barbara calls for tax advice. She's forming a new business and needs counsel regarding the tax treatment of each alternative entity form. She's thinking about an LLC based on advice from some friends. Regarding an LLC with one owner, which tax classifications could potentially apply? Sole proprietorship C corporation S corporation Partnership Sole proprietorship, C corporation, and S corporation Your clients Gayle M. and Steve R. (both U.S. citizens) would like to invest in KLE Metals, Inc., a Subchapter S corporation. KLE Metals currently has 99 shareholders. Which of the following statements are correct regarding the planned S corporation investment? If Gayle and Steve are unrelated, the addition of both shareholders will invalidate the selection. If Gayle is Steve's aunt, the addition of both shareholders will invalidate the S election. If Gayle is Steve's mother, the addition of both shareholders will invalidate the S election. If Gayle and Steve are ex-spouses, the addition of both shareholders will invalidate the S election. More than one of the above answers are correct