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In: AccountingKatie is a shareholder in Engineers One, a civil engineeringcompany. This year, Katie's share of...Katie is a shareholder in Engineers One, a civil engineeringcompany. This year, Katie's share of the net business income fromEngineers. One is $200,000. Assume that Katie's allocation of wagespaid by Engineers One to it's employees is $300,000 and herallocation of Engineers One's qualified property is $150,000(unadjusted basis of equipment , all purchased within the pastthree years) Assume Katie, has no other business income, no capitalgains or qualified dividends, and that her taxable income beforethe deduction for qualified business income is $400,000.Required:a. Calculate Katie's deductions for qualified businessincome.b. Assume the same facts as earlier, except Katie's net businessincome from Engineers One is $400,000 and taxable income before thedeductable for qualified business income is $350,000.