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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 in
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 March 14 (73 days) March 15 through December 31 (292 days) January 1 through December 31, 2021 (365 days) Income 170,000 549,000 $510,000 (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) Problem 22-49 Part c (Algo) c. On March 14, 2021, Winkin and Nod each sell their shares to Blinkin Wiki Nod Blinkin Incine Reported Daily Allocation Method Specific Identification Method
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