stores. If Bright Light incorporated is an S corporation how much income wil be allocated to Roberto A. 32,475 B. 64,950 C. 76,400 D. 129,900

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Roberto and Reagan are both 25 percent
owner/managers for Bright Light Enterprises.
Roberto runs the retail store in Sacramento, CA,
and Reagan runs the retail store in San
Francisco, CA. Bright Light generated a
$129,900 profit companywide made up of a
$76,400 profit from the Sacramento store, a
($28,500) loss from the San Francisco store, and
a combined $82,000 profit from the remaining
stores. If Bright Light incorporated is an S
corporation how much income wil be allocated
to Roberto
A. 32,475
B. 64,950
C. 76,400
D. 129,900
Transcribed Image Text:Roberto and Reagan are both 25 percent owner/managers for Bright Light Enterprises. Roberto runs the retail store in Sacramento, CA, and Reagan runs the retail store in San Francisco, CA. Bright Light generated a $129,900 profit companywide made up of a $76,400 profit from the Sacramento store, a ($28,500) loss from the San Francisco store, and a combined $82,000 profit from the remaining stores. If Bright Light incorporated is an S corporation how much income wil be allocated to Roberto A. 32,475 B. 64,950 C. 76,400 D. 129,900
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