Pink Corporation has several employees. Their names and salaries are listed below. Judy $470,000… 1 answer below »

Pink Corporation has several employees. Their names and salaries are listed below.

Judy

$470,000

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Holly  (Judy’s daughter)

100,000

Terry (Judy’s son)

100,000

John (an unrelated third  party)

320,000

 

Holly and Terry are the only shareholders of Pink Corporation. Judy and John share equally in the management of the company’s operations. Holly  and Terry  are both full-time college students at a university 200 miles away.  Pink  has  sub- stantial E & P and has never distributed a dividend. Discuss  any  problems  related       to Pink’s salary arrangement.

 

 

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