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! Required information Problem 22-49 (LO 22-3) (Algo) [The following information applies to the questions displayed below] Winkin, Blinkin, and Nod are equal shareholders
! Required information Problem 22-49 (LO 22-3) (Algo) [The following information applies to the questions displayed below] Winkin, Blinkin, and Nod are equal shareholders in SleepEZ, an S corporation. In the conditions listed below, how much income should each report from SleepEZ for 2021 under both the daily allocation and the specific identification allocation methods? Refer to the following table for the timing of SleepEZ's income. Period January 1 through April 1 (91 days) April 2 through December 31 (274 days) January 1 through December 31, 2021 (365 days) Income $188,000 361,000 $ 549,000 (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) Problem 22-49 Part a (Algo) a. There are no sales of SleepEZ stock during the year. Income Reported Daily Allocation Specific Identification. Method Method Winkin Blinkin Nod
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