Luis is the sole shareholder of a regular C corporation, and Eduardo owns a proprietorship. In the current year, both
businesses make a profit of $80,000 and each owner withdraws $50,000 from his business. With respect to this
information, which of the following statements is incorrect?
a. Eduardo must report $80,000 of income on his return.
b. Luis must report $80,000 of income on his return.
c. Eduardo's proprietorship is not required to pay income tax on $80,000.
d. Luis's corporation must pay income tax on $80,000.
e. None of the above

$527.7.if the following was the question  $527.7 is the answer.students who are trying to raise funds have an agreement with a local pizza chain. the chain has agreed to sell them pizzas at a discount, which the students can then resell to families in the local community for a profit. it is expected that of the 500 families in the community, at most 70% will buy pizza. based on a survey of their personal preferences, the students believe that they should order no more than 120 cheese pizzas, no more than 150 pepperoni pizzas, and no more than 100 vegetarian pizzas. they also want to make sure that at least 20% of the total pizzas are cheese and at least 50% of the pizzas are pepperoni. they make a profit of $1.45, $1.75, and $1.98, respectively, for each cheese, pepperoni, and vegetarian pizza they resell. how many pizzas of each type should they buy?