Return to question 20 Ms. Xie, who is in the 37 percent tax bracket, is the sole shareholder and president of Xenon. The corporation's financial records show the following: 10 points Gross income from sales of goods Operating expenses Salary paid to Ms. Xie Dividend distributions $1,590,000 (930,000) (300,000) (200,000) Required: a. Compute the combined tax cost for Xenon and Ms. Xie. (Ignore payroll tax.) b. How would your computation change if Ms. Xie's salary was $500,000 and Xenon paid no dividends? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B How would your computation change if Ms. Xie's salary was $500,000 and Xenon paid no dividends? Amount 54,400 X $ Xenon's tax Ms. Xie's tax on salary Total income tax cost 185,000 239,400 $