(Answered)-Zorn conducted his professional practice through Zorn, Inc. The corporation uses a fiscal year... - (2025 Updated Original AI-Free Solution

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Zorn conducted his professional practice through Zorn, Inc. The corporation uses a fiscal year ending September 30 even though the business purpose test for a fiscal year cannot be satisfied. For the year ending September 30, 2012, the corporation paidZorn a salary of $180,000, and during the period January through September 2012, the corporation paid him a salary of $150,000.a. How much salary should Zorn receive during the period October 1 through December 31, 2012?b. Assume that Zorn received only $24,000 of salary during the period October 1 through December 31, 2012. What would be the consequences to Zorn, Inc.?