please answer only 16

16 asks for taxable income and regular tax liability

Question 17 10 pts Dried Fruit Corp, has had a valid S Corp election in effect at all times since its incorporation. The Dried Fruit Corp, stock is owned one-third by Raisin and two-thirds by Prune. All shareholders are US resident citizen individuals. At the beginning of the current year, Raisin's basis in his shares was $54,000 and Prune's basis in her shares was $18.000. During the current year, Dried Fruit Corp.eamed $324,000 of net income from operations Rahsin's share was $108,000; Prune's share was $216.000. On July 1st, Dried Fruit Corp, distributed $144,000 to Raisin and $288,000 to Prune. How much pain does Raisin recognize as a result of this transaction? $54.000 50 $36.000 $18,000 Question 16 10 pts Xa calendar year, accrual basis corporation, reported $479.900 net income after tax on its financial statements prepared in accordance with GAAP. The corporation's financial records reveal the following information . Xearned $10,700 on an investment in tax-exempt municipal bonds. X's allowance for bad debts as of January 1 was $21.000. Write-offs for the year totaled $4.400, while the addition to the allowance was $3,700 The allowance as of December 31 was $20,300. On August 7, Xpaid a $6,000 fine to a municipal government for a violation of a local zoning ordinance. X's depreciation expense per books was $44,200, and its MACRS depreciation deduction was $31,000. . This is Xs second taxable year. In its first taxable year, it recognized an $8,800 net capital loss. This year, it recognized a $31,000 long term capital gain . In its first taxable year, X capitalized $6.900 organizational costs for tax purposes and elected to amortize the costs over 180 months. For book purposes, it expensed the costs . X's federal income tax expense per books was $151,000