Which one of the following statements is true? a. a manufacturing company will normally have raw materials, work in process, and finished goods as inventory account classifications. b. a merchandising company will normally have raw materials, work in process, and finished goods as inventory account classifications. c. a merchandising company will normally have raw materials and merchandise inventory as inventory account classifications. d. a manufacturing company will normally have raw materials, work in process, and merchandise inventory as inventory account classifications.

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?