taxes

HILL PRODUCTION HAS 4 SHAREHOLDERS ROWDY AND Q ARE CONSIDERED OFFICERS OF THE CORP-

ORATION

 

ROWDY HILL 40% WAGES 25,000

Q HILL 40%                       WAGES 25,000

CAM HILL    10%   WAGES 5,200

ALEX HILL 10%   WAGES 4160

 

WHAT WOULD BE THE CORRECT AMOUNT ON LINE 7 OF FORM 1120S

 

1. 54,200 2. 59,360

3. 63,560

4. 50000