Doug,Kate,and Gabe Own Refiner Group,Inc

question 54

Short Answer

Doug,Kate,and Gabe own Refiner Group,Inc.,an electing S corporation.The shareholder's ownership percentages and fiscal year ends follow:
$$\begin{array} { l c l } & \text { Ownership } & { \text { Year End } } \\\text { Doug } & 60 \% & \text { January } 31 \\\text { Kate } & 20 \% & \text { May } 31 \\\text { Gabe } & 15 \% & \text { September } 30\end{array}$$

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Definitions:

Values

Fundamental beliefs or standards of an individual or society, shaping attitudes and behaviors.

Mean

The mean value of a collection of numbers, determined by adding all the numbers together and then dividing that total by the quantity of numbers in the collection.

Salaries

Fixed regular payments made by employers to employees, typically on a monthly or biweekly basis, in exchange for their work or services.

Ethical Treatment

The provision of humane and morally appropriate care or handling, often discussed in the context of animals or patients.