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please answer it asap Mr. Lion, who is in the 37 percent tax bracket, is the sole shareholder of Toto,lnc., which manufactures greeting cards. Toto's

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Mr. Lion, who is in the 37 percent tax bracket, is the sole shareholder of Toto,lnc., which manufactures greeting cards. Toto's average annual net profit (before deduction of Mr. Lion's salary) is $340,000. For each of the following cases, compute the income tax burden on this profit. (Ignore any payroll tax consequences.) a. Mr. Lion's salary is $100,000, and Toto pays no dividends. b. Mr. Lion's salary is $100,000, and Toto distributes its after-tax income as a dividend. c.Toto is an S corporation. Mr. Lion's salary is $100,000, and Toto makes no cash distributions. Assume Toto's ordinary income qualifies for the 20 percent Section 199A deduction. the 20 percent Section 199A deduction. ordinary income qualifies for the 20 percent Section 199A deduction d. Toto is an S corporation. Mr.Lion draws no salary, and Toto makes no cash distributions. Assume Toto's ordinary income qualifies for e. Toto is an S corporation. Mr. Lion draws no salary, and Toto makes cash distributions of all its income to Mr. Lion. Assume Toto's a. Income tax burden on this profit b.Income tax burden on this profit c. Income tax burden on this profit d. Income tax burden on this profit e. Income tax burden on this profit 59,250 74,800 74,000 74,000 74,800

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