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Problem 28-24 (Algorithmic) (LO. 2, 3) The Allwardt Trust is a simple trust that correctly uses the calendar year for tax purposes. Its income beneficiaries

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Problem 28-24 (Algorithmic) (LO. 2, 3) The Allwardt Trust is a simple trust that correctly uses the calendar year for tax purposes. Its income beneficiaries (Lucy and Ethel) are entitled to the trust's annual accounting income in shares of one-half each. For the current tax year, Allwardt reports the following. a. How much income is each beneficiary entitled to receive? b. What is the trust's DNI? $ c. What is the trust's taxable income? d. How much gross income is reported by each of the beneficiaries

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