Required information [The following information applies to the questions displayed below.] Sharon Inc. is headquartered in State X and owns 100 percent of Carol Corp., Josey Corp., and Janice Corp., which form a single unitary group. Assume sales operations are within the solicitation bounds of Public Law 86-272. Each of the corporations has operations in the following states: Domicile State Dividend income Business income Sales: State x State y State z State A State B Property: State x State Y State z State A Payroll: State x State Y State z State A Sharon Inc. Carol Corp. Josey Corp. Janice Corp. State X State Y State 2 State 2 (throwback) (throwback) (nonthrowback) (nonthrowback) $ 1,990 $ 310 $ 715 $ 965 55,500 41,000 15,800 12,900 78,000 12,200 11,200 10,400 44,750 8,450 31,200 30,500 12,200 16,000 14,900 10,600 63,750 30,100 19,300 99,500 34,500 27,500 57,750 10,100 18,200 42,000 5,350 19,800 16,300 Compute the following for State X assuming a tax rate of 15 percent. (Use an equally weighted three-factor apportionment. Round all apportionment factors to 4 decimal places. Round other answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.) Compute the following for State X assuming a tax rate of 15 percent. (Use an equally weighted three-factor apportionment. Round all apportionment factors to 4 decimal places. Round other answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.) a. Calculate the State X apportionment factor for Sharon Inc., Carol Corp., Josey Corp., and Janice Corp. State X Apportionment factors Sharon Carol Josey Janice Compute the following for State X assuming a tax rate of 15 percent. (Use an equally weighted three-factor apportionment. Round all apportionment factors to 4 decimal places. Round other answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.) b. Calculate the business income apportioned to State X. State X Business Income Compute the following for State X assuming a tax rate of 15 percent. (Use an equally weighted three-factor apportionment. Round all apportionment factors to 4 decimal places. Round other answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.) c. Calculate the taxable income for State X for each company. State X taxable income Sharon Carol Josey Janice Compute the following for State X assuming a tax rate of 15 percent. (Use an equally weighted three-factor apportionment. Round all apportionment factors to 4 decimal places. Round other answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.) d. Determine the tax liability for State X for the entire group. State X Tax liability Required information [The following information applies to the questions displayed below.] Sharon Inc. is headquartered in State X and owns 100 percent of Carol Corp., Josey Corp., and Janice Corp., which form a single unitary group. Assume sales operations are within the solicitation bounds of Public Law 86-272. Each of the corporations has operations in the following states: Domicile State Dividend income Business income Sales: State x State y State z State A State B Property: State x State Y State z State A Payroll: State x State Y State z State A Sharon Inc. Carol Corp. Josey Corp. Janice Corp. State X State Y State 2 State 2 (throwback) (throwback) (nonthrowback) (nonthrowback) $ 1,990 $ 310 $ 715 $ 965 55,500 41,000 15,800 12,900 78,000 12,200 11,200 10,400 44,750 8,450 31,200 30,500 12,200 16,000 14,900 10,600 63,750 30,100 19,300 99,500 34,500 27,500 57,750 10,100 18,200 42,000 5,350 19,800 16,300 Compute the following for State X assuming a tax rate of 15 percent. (Use an equally weighted three-factor apportionment. Round all apportionment factors to 4 decimal places. Round other answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.) Compute the following for State X assuming a tax rate of 15 percent. (Use an equally weighted three-factor apportionment. Round all apportionment factors to 4 decimal places. Round other answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.) a. Calculate the State X apportionment factor for Sharon Inc., Carol Corp., Josey Corp., and Janice Corp. State X Apportionment factors Sharon Carol Josey Janice Compute the following for State X assuming a tax rate of 15 percent. (Use an equally weighted three-factor apportionment. Round all apportionment factors to 4 decimal places. Round other answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.) b. Calculate the business income apportioned to State X. State X Business Income Compute the following for State X assuming a tax rate of 15 percent. (Use an equally weighted three-factor apportionment. Round all apportionment factors to 4 decimal places. Round other answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.) c. Calculate the taxable income for State X for each company. State X taxable income Sharon Carol Josey Janice Compute the following for State X assuming a tax rate of 15 percent. (Use an equally weighted three-factor apportionment. Round all apportionment factors to 4 decimal places. Round other answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.) d. Determine the tax liability for State X for the entire group. State X Tax liability