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January 1 - July 31 ,August 1 - December 31 ,anuary 1 - December 31 ,202 0 ( 213 days )2028 ( 153 days )Sales revenue$ 80 , 808$ 185 , 080$ 265 080cost of goods sold( 40, 8BB )( 20 , BOB )( 60 , 0 0 0 )Salaries to Barry and Winnie( 60 , Bee( 40 , 080 )( 190 , 080 )Depreciation expense( 7 8 80 )( 2 , 0BB )( 9 , B BB )Miscellaneous expenses( 4, 8 80 )( 3 , B BB )( 7 , ODD )Interest income6, BOB5.25 01 1 250Overall net income ( loss )$ ( 25 , 8 80 )$ 125 250$ 180 , 250f . For tax purposes , how would you recommend Barry and Winnie allocate income between the short S corporation yeporation year and the shoC corporation year if they would like to minimize double taxation of Omniocular's income9 . Assume in part (f ) that Omniocular allocates income between the short S and C corporation years in a wayis in a way that minimizes thedouble taxation of its income . If Barry's stock basis in his Omniocular stock on January 1 2020 , is $50 000 , what is his stock basison December 31 2020 ?. When is the earliest tax year in which Omniocular can be taxed as an S corporation again ?complete this question by entering your answers in the tabs belowReg AReg BReg C to E andReg FReg HHow much LIFO recapture tax ( in total ) is Omniocular required to pay and when is the first instaIment due ? As per new taxrule , thethe corporate tax rate Is 219%Due DateTotal LIFO recapture taxApril 15 , 2019 January 1 - July 31 ,August 1 - December 31 , January 1 - December 31 ,2020 ( 213 days )2020 ( 153 days )Sales revenue$ 80 , 080$ 185 , BOB$ 265cost of goods sold( 40 , 98 0 )( 20, 080 )( 60 , Age )Salaries to Barry and Winnie( 60 , BOB )( 40 , 8BB )( 180 , god )Depreciation expense( 7 080 )( 2 , BBQ )(9, 080 )Miscellaneous expenses( 4 , BOB )(3 , BOB )( 7 , ODD )Interest income11 . 250Overall net income ( loss )$ ( 25 , 980 )$ 125 , 250$ 180 , 250f . For tax purposes , how would you recommend Barry and Winnie allocate income between the short S corporation year and the shortC corporation year if they would like to minimize double taxation of Omniocular's income9 . Assume in part ( f ) that Omniocular allocates income between the short S and C corporation years in a way that minimizes thedouble taxation of its income . If Barry's stock basis in his Omniocular stock on January 1 2020 , is $50 000 , what is his stock basison December 31 . 2020h . When is the earliest tax year in which Omniocular can be taxed as an S corporation again ?complete this question by entering your answers in the tabs belowReg AReg BReg C to E andRea FRea HC . How much built-in gains tax ,X , If any , is Omniocular required to pay ?How much excess net passive income tax , If any , is Omniocular requiredto pay ?Assume Barry's basis in his Ornioculhiocular stock was $40,000 on January 1 , 2019What is his stock basis on December 31 ,2019 ? ( Do not round intermediate calculations . Round your final answers to the nearest whole dollar amount . )9 . Assume In part ( f ) that Omniocular allocates income between the short s and C coporation years In a way that minimizesIf Barry's stock basis in his omniocular stock on January1 , 2020 , Is $50 ,000 , what is hisstock basis on December 31 , 2020 ? ( Do not round intermediate calculations . Round your final answers to the nearest wholestock basis on December 31 , 2020 ? ( Ddollar amount . )Show lessABuilt-in gains taxExcess net passive income taxStock basisStock basis