Devi is the chief executive officer of Nishida Limited. Devi
owns 20% of the common stock of Nishida. During the current year, Devis salary
is $60,000 and he receives a $30,000 bonus. Nishida has taxable income of
$200,000 and pays $80,000 in cash dividends. How much gross income does Devi
a. Nishida is a corporation?
b. Nishida is an S corporation?