PC:5-22 (similar to) Zoan (an individual) and nine other unrelated individuals own all of Flamingo Corporation's stock. The following information pertains to Flamingo for the current year: (Click the icon to view the data.) Read the requirement Complete the table below for each scenario to determine whether Flamingo qualifies as a personal holding company (PHC) for the current year. (Complete all answer boxes.) Is the stock ownership Is the passive income Does the company qualify Scenario requirement met for a PHC? requirement met for a PHC? as a PHC? a. Requirement Data Table In each of the following independent cases, determine whether Flamingo qualifies as a personal holding company for the current year. a. Zoan owns 19% of Flamingo's stock and each of the nine other individuals owns 9% of Flamingo's stock. b. Zoan owns 9.1% of Flamingo's stock and each of the nine other individuals owns 10.1% of Flamingo's stock. c. Zoan owns 10% of Flamingo's stock and each of the nine other individuals owns 10% of Flamingo's stock. Adjusted ordinary gross income Ordinary gross income $ 430,000 530,000 310,000 226,000 Personal holding company income Taxable income Print Done Print Done