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Exercise 22-17 (Algorithmic) (LO. 6) Dion, an S shareholder, owned 20% of MeadowBrook's stock for 292 days and 25% for the remaining 73 days in
Exercise 22-17 (Algorithmic) (LO. 6) Dion, an S shareholder, owned 20% of MeadowBrook's stock for 292 days and 25% for the remaining 73 days in the year. Using the required per-day allocation method, compute Dion's share of the following corporation items. Assume 365 days in a year. Schedule K Totals Dion's Schedule K-1 Totals Ordinary income $236,000 Tax-exempt interest 2,360 Charitable contributions 11,800
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