Jeniffer operates a business that produces $98000 of income before any amounts are paid to her. She is married, and her spouse receives $84000 of salary from an unrelated employer. They file jointly, have of $32000 itemized deductions, and have no dependents. She operates the business as a C corporation receiving a salary from the corporation of . The corporation distributes its after tax income to her as a dividend. Begin by calculating taxable income for under this scenario. (Enter a "0" for any zero amounts.) Salaries S corporation income Adjusted gross income Minus: Itemized deductions Taxable income Part 4 Now enter the income tax that would be paid by and the corporation under this scenario. (Use the tax rate schedules for all tax calculations. Do not round any intermediary calculations. Round your final tax liability to the nearest whole dollar.) Income tax paid by Amount of tax Jennifer Corporation Total income tax Part 5 c. How would the total tax change in each of the first two requirements if the corporation made no payments to the owner other than the salary? Let's begin by calculating any change in tax under the set of facts for scenario (a), assuming that the corporation made no payments to the owner other than the salary. (Enter a "0" for no change in tax.) Income tax paid by Net effect on tax Increase (decrease) in income tax Jennifer Corporation Part 6 Now calculate any change in tax under the set of facts for scenario (b), assuming that the corporation made no payments to the owner other than the salary. (Enter a "0" for no change in tax. Use a minus sign or parentheses for a decrease in tax.) Income tax paid by Net effect on tax Increase (decrease) in income tax Jennifer Corporation