He is a 10% shareholder in Patricks pies, a bakery that is organized as a C corporation. During the year, Patrick worked full time for the corporation. The corporation had total income of $70000, but did not make any distribution to shareholders during the year. How much of this taxable to Patrick?

Patrick is a 10% shareholder in Patrick's Pies, a bakery that is organized as a C corporation. During the year, Patrick worked full-time for the corporation. The corporation had total income of $70,000, but did not make any distributions to shareholders Question 45 of 75. during the year. How much of this total is taxable to Patrick? $0 $4,500 $7,000 $10,000 Mark for follow up