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- Elaine is Single and her sole source of income is from her business activities - It is expected that her business meets the definition of a trade or business for Qualified Business Income deduction purposes - The business generates $140,000 of net income before contemplating any taxes - Elaine is assuming a reasonable compensation amount of $50,000 - As a C Corporation, the business will dividend out all earnings after taxes are paid to Elaine Required: 1. Complete the "The tax is:" column for the filing status table using a formula. 2. Complete the Schedule C tax calculations using VLOOKUP formulas to the 2022 tax brackets. 3. Complete the S Corporation tax calculations using VLOOKUP formulas to the 2022 tax brackets. 4. Complete the C Corporation tax calculations using VLOOKUP formulas to the 2022 tax brackets. - Elaine is Single and her sole source of income is from her business activities - It is expected that her business meets the definition of a trade or business for Qualified Business Income deduction purposes - The business generates $140,000 of net income before contemplating any taxes - Elaine is assuming a reasonable compensation amount of $50,000 - As a C Corporation, the business will dividend out all earnings after taxes are paid to Elaine Required: 1. Complete the "The tax is:" column for the filing status table using a formula. 2. Complete the Schedule C tax calculations using VLOOKUP formulas to the 2022 tax brackets. 3. Complete the S Corporation tax calculations using VLOOKUP formulas to the 2022 tax brackets. 4. Complete the C Corporation tax calculations using VLOOKUP formulas to the 2022 tax brackets