I have a few questions from my finance class that I cannot figure out and was hoping someone on here could help explain them to me. I would really appreciate the help!

1. What is (are) the difference(s) behind "gross" working capital, "net" working capial, and "net operating" working capital?

2. If you run your company as a sole proprietorship, your taxable income will be $50,000. If you run your company as a corporation (and pay yourself a salary of $40,000 along with all the company's net income as a dividend), the corporation's taxable income will be $10,000. Your personal tax rate is 8% and your corporate tax rate is 20%. If you wish to maximize your after-tax income, which form of business should you utilize? (Prove your answer)

3. Using the following info, create a basic income and balance sheet.

Sales = $100,000
LTD = $40,000
Inventory = $25,000
Cash = $5,000
Interest expense = $4,000
Dividends payment = $12,000
Accounts payable = $9,000
Net fixed assets = $140,000
Equity = ?
COGS = $50,000
Taxes = (at 30% of taxable income)
Accounts receivable = $10,000

4. What is the Federal reserve's current fed funds target rate?

Even just help with one of the questions would be great!