Ms. Xie, who is in the 37 percent tax bracket, is the sole shareholder and president of Xenon. The corporations financial records show the following:

Gross income from sales of goods	$ 1,626,000
Operating expenses	(942,000)
Salary paid to Ms. Xie	(312,000)
Dividend distributions	(212,000)

Required:

1. Compute the combined tax cost for Xenon and Ms. Xie. (Ignore payroll tax.)
2. How would your computation change if Ms. Xies salary was $524,000 and Xenon paid no dividends?

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: Required: 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 $524,000 and Xenon paid no dividends? Complete this question by entering your answers in the tabs below. Compute the combined tax cost for Xenon and Ms. Xie. (Ignore payroll tax.) 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: Required: 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 $524,000 and Xenon paid no dividends? Complete this question by entering your answers in the tabs below. How would your computation change if Ms. Xie's salary was $524,000 and Xenon paid no dividends