CB Corporation was formed as a calendar-year S corporation. Casey is a 60% shareholder and Bryant is a 40% shareholder. On September 30, 2015, Bryant sold his CB shares to Don. CB reported business income for 2015 as follows (assume that there are 365 days in the year):

Period	Income
January 1 through September 30 (273 days)	$200,000
October 1 through December 31 (92 days)	$520,000
January 1 through December 31	$720,000

How much 2015 income is allocated to each shareholder if CB corp. uses the daily method of allocating income?

When distributing income, it is important to determine who is entitled to the sharing. One can only earn the income if he/she owns a share or have contributed to the capital of the corporation.