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Required Information Problem 5-34 (LO 5-2) (Algo) [The following information applies to the questions displayed below.] Lanny and Shirley divorced in 2018 and do not
Required Information Problem 5-34 (LO 5-2) (Algo) [The following information applies to the questions displayed below.] Lanny and Shirley divorced in 2018 and do not live together. Shirley has custody of their child, Art, and Lanny pays Shirley $22,500 per year. All property was divided equally. Problem 5.54 Part-a (Algo) a. How much should Shirley include In Income If Lanny's payments are made in cash but will cease if Shirley dies or remarries? Amount to be included b. How much should Shirley Include in Income if $12,300 of Lanny's payments is designated as "nonalimony" in the divorce decree? Amount to be included c. How much should Shirley Include In Income if Lanny's payments drop to $15.400 once Art reaches the age of 18? Amount to be included
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