Ransler Co. (RC) is a subchapter C corporation for federal tax purposes. For 2109, RC reported taxable income of $405,000. At the end of the year, RC distributed all its after-tax earnings to Mika (single individual), the company's sole shareholder. Mika's marginal ordinary tax rate is 35 percent and her marginal tax rate on dividends is 23.8 percent, including the net investment income tax. Considering all the taxes paid, what is the overall tax rate on Ransler Co.'s pretax income? 29.45% 31.39% 35.85% 39.80% Many businesses report a loss in their early years. Regarding losses, which of the following business entities require loss carryforwards (or carrybacks in some cases) compared to flow-through to the owners' returns? Sole proprietorship Partnership C corporation S corporation All of the above require loss carryforwards and in some cases carrybacks