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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
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 $128,500 profit companywide made up of a $76,000 profit from the Sacramento store, a ($27,500) loss from the San Francisco store, and a combined $80,000 profit from the remaining stores. If Bright Light Inc. is an S corporation, how much income will be allocated to Roberto? Multiple Choice $32,125.00 $64,250.00 $76,000.00
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