Financial statement data for the year ending December 31 for the Power Company are as follows: Net income $680,000 Preferred dividends $20,000 Average number of common shares outstanding 120,000 shares Compute the earnings per share for the year. a.$5.83 b.$5.67 c.$5.00 d.$5.50

Jacob is a member of wcc (an llc taxed as a partnership). jacob was allocated $155,000 of business income from wcc for the year. jacob’s marginal income tax rate is 37 percent. the business allocation is subject to 2.9 percent of self-employment tax and 0.9 percent additional medicare tax. (round your intermediate calculations to the nearest whole dollar a) what is the amount of tax jacob will owe on the income allocation if the income is not qualified business income? b) what is the amount of tax jacob will owe on the income allocation if the income is qualified business income (qbi) and jacob qualifies for the full qbi duduction?