Ms. Xie, who is in the 37 percent tax bracket, is the sole shareholder and president of Xenon. The corporation's financial records show the following. Gross income from sales of goods Operating expenses Salary paid to Ms. Xie Dividend distributions $1,590,000 (930,000) (300,000) (200,000) a. Compute the combined tax cost for Xenon and Ms. Xie. (Ignore payroll tax.) b. How would your computation change if Ms. Xie's salary was $500,000 and Xenon paid no dividends? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B Compute the combined tax cost for Xenon and Ms. Xie. (Ignore payroll tax.) $ Xenon's tax Ms. Xie's tax on salary Ms. Xie's tax on dividend Total income tax cost 273,400 111,000 40,000 424,400 Ms. Xie, who is in the 37 percent tax bracket, is the sole shareholder and president of Xenon. The corporation's financial records show the following Gross income from sales of goods Operating expenses Salary paid to Ms. Xie Dividend distributions $1,590,000 (930,000) (300,000) (200,000) a. Compute the combined tax cost for Xenon and Ms. Xie. (Ignore payroll tax.) b. How would your computation change if Ms. Xie's salary was $500,000 and Xenon paid no dividends? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B How would your computation change if Ms. Xie's salary was $500,000 and Xenon paid no dividends? Xenon's tax Ms. Xie's tax on salary Total income tax cost 45,650 X 185,000 230,650 $