WRT, a calendar year S corporation, has 100 shares of outstanding stock. At the beginning of the year, Mr. Wallace owned all 100 shares. On September 30, he gave 20 shares to his brother and 35 shares to his daughter. WRT's ordinary income for the year was $236,000 Required: What portion of this income must each shareholder include in income? (Assume 365 days in a year. Round income per day of ownership to 4 decimal places. Round other intermediate calculations and final answers to the nearest whole dollar amount.) Amount Brother's income Daughter's income Mr. Wallace's income Mr. Lion, who is in the 37 percent tax bracket, is the sole shareholder of Toto Inc., which manufactures greeting cards. Toto's average annual net profit (before deduction of Mr. Lion's salary) is $360,000. For each of the following cases, compute the income tax burden on this profit. Assume that all dividends are taxed to individuals at a 20% tax rate. (Ignore any payroll tax consequences) Required: a. Mr. Lion's salary is $100,000, and Toto pays no dividends b. Mr. Lion's salary is $100,000, and Toto distributes its after-tax income as a dividend, c. Toto is an S corporation Mc Lion's salary is $100,000, and Toto makes no cash distributions. Assume Toto's ordinary Income qualifies for the 20 percent QBI deduction, subject to no limitations d. Toto is an S corporation. Mr. Lion draws no salary, and Toto makes no cash distributions. Assume Toto's ordinary income qualifies for the 20 percent QBI deduction, subject to no limitations e. Toto is an S corporation. Mr. Lion draws no salary, and Toto makes cash distributions of all its income to Mr Lion Assume Toto's ordinary income qualifies for the 20 percent QBi deduction, subject to no limitations Amount a Income tax burden on this profit b. Income tax burden on this profit c. Income tax burden on this profit d. Income tax burden on this profit Income tax burden on this profit