Allocate the indirect costs to the divisions and prepare a departmental income statement for each division. Administrative, general, and mar- keting costs are allocated based on sales revenue. The remaining indi- rect costs are allocated based on square footage used by each division: Dining 2,400 sq. ft. Banquet 3,000, sq. ft. Beverage 600 sq. ft.

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?