Of the following statements regarding S corps, which is true?

Group of answer choices

An S corporation may have no more than 50 shareholders.

Any individual, estate, corporation, or trust may be an S corporation shareholder.

An S corporation may have only one class of stock.

An S corporation shareholder's allocable share of ordinary income is subject to self-employment tax.

In 2017 , ZenCo, Inc. reported $210,500 of taxable income. What is its regular tax liability for tax year 2017? Use the following 2017 corporate rates below: $82,095 $65,345 $73,675 $71,570 Joy, Peace and Love formed the JPL Partnership, agreeing to share profits and losses equally. Love will manage the business for which they will receive a guaranteed payment of $30,000 per year. Cash receipts and disbursements for the year were as follows: What is Love's share of the partnership's ordinary income and guaranteed payment? Ordinary income, $30,000; Guaranteed payment, $10,000 Ordinary income, $20,000; Guaranteed payment, $10,000 Ordinary income, $30,000; Guaranteed payment, $30,000 Ordinary income, $20,000; Guaranteed payment, $30,000