To follow is selected information about the little dipper company for the current year and prior year account net sales revenue cost of goods sold gross profit selling/general expenses net income before tax income tax net income current $648,000 $414,720 $233,280 $149,040 $84,240 $25,120 $59,120 prior $595,000 $425,000 $170,000 $93,500 $76,500 $22,800 $53,700 what is the current years net income percentage (as would be found on a vertical analysis of the income statement for the current year)? a. 70.18% b. 235.35% с. 9.12% d, 10.09%

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?