Question 8 of 15. Jacqueline is the sole shareholder of Corporation NKD. She would like to use profits of the business for personal expenses. Each of the following describes a legal way for Jacqueline to withdraw funds from NKD EXCEPT: Jacqueline pays her personal expenses from the corporation's funds. Jacqueline receives taxable wages from NKD NKD lends funds to Jacqueline with a reasonable interest rate and repayment schedule. NKD pays Jacqueline a taxable dividend. Mark for follow up Question 9 of 15. In 2020, NRL Corporation made a cash contribution to a qualifying charitable organization. The amount of the contribution NRL can deduct on Form 1120, U.S. Corporation Income Tax Return, is limited to what percentage of their taxable income? 10% 25% 50% 100% Mark for follow up Question 10 of 15. Which of the following are financial statements used by business entities to report the financial position of the entity? A balance sheet, a depreciation schedule, and a cash receipts journal. A balance sheet and a cash disbursements journal. A balance sheet and an income statement. An income statement, a statement of cash flow, and a depreciation schedule. Mark for follow up