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Mr. Lion, who is in the 37 percent tax bracket, is the sole shareholder of Toto incorporated, which manufactures greeting cards. Toto's average annual net

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Mr. Lion, who is in the 37 percent tax bracket, is the sole shareholder of Toto incorporated, which manufactures greeting cards. Toto's average annual net profit (before deduction of Mr. Lion's salary) is $330,000. For each of the following cases, compute the income tax burden on this profit. lignore any payroll tax consequences.) Required: Q. Mr. Lion's salary is $100.000, and Toto pays no dividends b. Mc. Lion's salary is $100,000, and Toto distributes its after-tax income as a dividend c. Toto is an $ corporation. Mr, Lion's salary is $100,000, and Toto makes no cost distributions. Assume Toto's ordinary income qualifies for the 20 persent QBi deduction. d. Toto is an $ corporation, Mr Lion draws no salary, and Toto makes no cosh distributions. Assume Toto's ordinary income qualifies for the 20 percent QBi deduction -. Toto is an 5 corporation. Mr. Lion draws no salary, and Toto makes cash distributions of all its income to Mr. Lion. Assume Fotos ordirury income qualifies for the 20 percent QBi deduction. Answer is complete but not entirely correct. Mr. Lion, who is in the 37 percent tax bracket, is the sole shareholder of Toto incorporated, which manufactures greeting cards. Toto's average annual net profit (before deduction of Mr. Lion's salary) is $330,000. For each of the following cases, compute the income tax burden on this profit. lignore any payroll tax consequences.) Required: Q. Mr. Lion's salary is $100.000, and Toto pays no dividends b. Mc. Lion's salary is $100,000, and Toto distributes its after-tax income as a dividend c. Toto is an $ corporation. Mr, Lion's salary is $100,000, and Toto makes no cost distributions. Assume Toto's ordinary income qualifies for the 20 persent QBi deduction. d. Toto is an $ corporation, Mr Lion draws no salary, and Toto makes no cosh distributions. Assume Toto's ordinary income qualifies for the 20 percent QBi deduction -. Toto is an 5 corporation. Mr. Lion draws no salary, and Toto makes cash distributions of all its income to Mr. Lion. Assume Fotos ordirury income qualifies for the 20 percent QBi deduction. Answer is complete but not entirely correct

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