how much income will be allocated to Roberto?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Ashvin
Transcribed Image Text: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
О
$66,000.00
$77,000.00
О
$132,000.00
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