Luis is the sole shareholder of a corporation, and Eduardo owns a sole proprietorship. Both businesses were started in year 2015, and both make a profit of $80,000 in year 2015. Each owner withdraws $50,000 from his business during the year to pay personal expenses. Which one of the following statements is incorrect?

a. Eduardo must report net profit from his business of $80,000 for 2015.

b. Luis must report dividend income of $80,000 for 2015.

c. Eduardos proprietorship (as opposed to Eduardo) is not required to pay tax on the $80,000 profit for 2015.

d. Luiss corporation must pay tax on $80,000 for 2015. e. None of the above.