22. LO.4 Megan owns 55% and Vern owns 45% of a business entity. The owners would like to share profits (55% for Megan and 45% for Vern) and losses (80% for Vern and 20% for Megan) differently if possible. Determine the tax consequences for the entity and its owners if the entity has a tax loss of $160,000 and is organized as:

a. A partnership.

b. A C corporation.

c. An S corporation.