The Johnson’s had two children, both of them are married and now have their own families, call them Family A and Family B. They both file their U.S. income taxes as married, filing jointly....

The Johnson’s had two children, both of them are married and now have their own families, call them Family A and Family B. They both file their U.S. income taxes as married, filing jointly. Information collected for a year for each family is shown below. Neglecting any effect of state taxes, use a spreadsheet and the latest tax rates from the IRS publication 17, Your Federal Income Tax(www.irs.gov), to determine the following for each family:

(a)Percentage of TI paid in federal taxes.

(b)Percentage of total income (salaries, dividends, and other) paid in federal taxes.

Exemptions are $4000 per individual (adult or child). Deductions for Family A are standard and itemized for B.