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Required Information The following Information applies to the questions displayed below Winkin, Blinkin, and Nod are equal shareholders In SleepEZ, an S corporation. In the
Required Information The following Information applies to the questions displayed below Winkin, Blinkin, and Nod are equal shareholders In SleepEZ, an S corporation. In the conditions lIlsted below, how much Income should each report from SleepEZ for 2018 under both the dally allocation and the specific Identfcation allocation method? Refer to the following table for the timing of SleepEZ's Income. January 1 through April 4 (94 days) April 5 through December 31 (271 days) January 1 through Decenber 31, 2818 (365 days) S 139,808 485,888 544,808 Do not round intermedlate calculations. Round your final answers to the nearest whole dollar amount.) c. On Aprll 4, 2018, Winkin and Nod each sell thelr shares to Blnkin. 3 Answer is complete but not entirely correct. Daily Winkin Nod Blinkin 48,333 450,601451,333 46,70046,333 546,700S
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