Sean and Rose each own one-half the stock of Hydrate Corporation, an S corporation. During the current year (assume a non-leap year), Hydrate earns $9,000 per month of ordinary income. On April 5, Rose sells her entire stock interest to Ava. The corporation sells a business asset on August 18 and realizes a $74,000 Sec. 1231 gain. Requirement What alternatives (if any) exist for allocating Hydrate's current year income? First, select an alternative for allocating Hydrate's current year income. Hydrate can use the per day/per share method. Now calculate the pass-through income allocated to each shareholder using the method selected above. (Do not round intermediary calculations. Only round the amount you enter in the input field to the nearest dollar.) Sean Rose Ava Ordinary income Sec. 1231 gain 37000 9764 27369 Select another alternative for allocating Hydrate's current year income. Hydrate can use the closing of the books method. Now calculate the pass-through income allocated to each shareholder using the second method selected above. (Do not round intermediary calculations. Only round the amount you enter in the input field to the nearest dollar. Complete all input fields. Enter a "0" for any zero amounts.) Ordinary income Sec. 1231 gain Sean 37000 Rose Ava 37000