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Roberto and Reagan are both 25 percent owner/managers for Bright Light Inc. Roberto runs the retail store in Sacramento, CA, and Reagan runs the retail
Roberto and Reagan are both 25 percent owner/managers for Bright Light Inc. Roberto runs the retail store in Sacramento, CA, and Reagan runs the retail store in San Francisco, CA. Bright Light Inc. generated a $126,400 profit companywide made up of a $75,400 profit from the Sacramento store, a ($26,000) loss from the San Francisco store, and a combined $77,000 profit from the remaining stores. If Bright Light Inc. is an S corporation, how much income will be allocated to Roberto? Multiple Choice $31,600.00. $63,200.00. $75,400.00. $126,400.00
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