LO.2, 3 The Alwardt Trust is a simple trust that correctly uses the calendar year for tax purposes. Its income beneficiaries (Lucy and EtheD are entitled to th trust's annual accounting income in shares of one-half each For the current tax year, Allwardt reports the following Ordinary income Long-term capital gains, allocable to corpus Trustee commission expense, allocable to corpus $100,000 30,000 5,000 Use the format of Exhibit 20.5 to address the following items. a. How much income is each beneficiary entitled to receive? b. What is the trust's DNI? c. What is the trust's taxable income? d. How much gross income is reported by each of the beneficiaries? LO.2, 3 The Alwardt Trust is a simple trust that correctly uses the calendar year for tax purposes. Its income beneficiaries (Lucy and EtheD are entitled to th trust's annual accounting income in shares of one-half each For the current tax year, Allwardt reports the following Ordinary income Long-term capital gains, allocable to corpus Trustee commission expense, allocable to corpus $100,000 30,000 5,000 Use the format of Exhibit 20.5 to address the following items. a. How much income is each beneficiary entitled to receive? b. What is the trust's DNI? c. What is the trust's taxable income? d. How much gross income is reported by each of the beneficiaries