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Roberto and Reagan are both 25-percent owner/managers for Bright Light Incorporated. Roberto runs the retail store in Sacramento, California, and Reagan runs the retail
Roberto and Reagan are both 25-percent owner/managers for Bright Light Incorporated. Roberto runs the retail store in Sacramento, California, and Reagan runs the retail store in San Francisco, California. Bright Light Incorporated generated a $132,000 profit companywide made up of a $77,000 profit from the Sacramento store, a ($30,000) loss from the San Francisco store, and a combined $85,000 profit from the remaining stores. If Bright Light Incorporated is an S corporation, how much income will be allocated to Roberto? Multiple Choice $33,000.00 $66,000.00 $77,000.00 $132.000.00
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