During he current year, The Jupiter Company, which is an S corporation, had the following items of income and expenses. Jupiter Corp. has two shareholders Anton and Beck Anton owns 40% ofthe company and Becky owns 60%. Label your answers a-g. Gross income from operations Gain on sale of business assets Qualified dividend income from investments Salaries to employees Payroll taxes Rent $137,000 5,000 100 65,000 6,000 7,000 3,500 2,000 3,000 40,000 Contributions to United Way charity Foreign tax paid on overseas business deals Distributions to the shareholders a. What is Jupiter's ordinary income? Show your work. (10 points) b. On what line of the 2017 Form 1120S would Jupiter's ordinary income be reported (5 points)? c. If Jupiter is on a calendar year, when is the corporation's tax return due? (5 points) d. List Jupiter's separately stated items and amounts. (10 points) e. On what schedule are the separately stated items reported? (5 points) f. List the amount that Anton would show on his tax return for the following: (10 points) Ordinary income Gain on sale of assets Qualified dividend income . Charitable contributions Foreign tax paid g. List the amount that Becky would show on her tax return for the following: (10 points) .Ordinary income .Gain on sale of assets Qualified dividend income . Charitable contributions Foreign tax paid During he current year, The Jupiter Company, which is an S corporation, had the following items of income and expenses. Jupiter Corp. has two shareholders Anton and Beck Anton owns 40% ofthe company and Becky owns 60%. Label your answers a-g. Gross income from operations Gain on sale of business assets Qualified dividend income from investments Salaries to employees Payroll taxes Rent $137,000 5,000 100 65,000 6,000 7,000 3,500 2,000 3,000 40,000 Contributions to United Way charity Foreign tax paid on overseas business deals Distributions to the shareholders a. What is Jupiter's ordinary income? Show your work. (10 points) b. On what line of the 2017 Form 1120S would Jupiter's ordinary income be reported (5 points)? c. If Jupiter is on a calendar year, when is the corporation's tax return due? (5 points) d. List Jupiter's separately stated items and amounts. (10 points) e. On what schedule are the separately stated items reported? (5 points) f. List the amount that Anton would show on his tax return for the following: (10 points) Ordinary income Gain on sale of assets Qualified dividend income . Charitable contributions Foreign tax paid g. List the amount that Becky would show on her tax return for the following: (10 points) .Ordinary income .Gain on sale of assets Qualified dividend income . Charitable contributions Foreign tax paid