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South Park is an S Corporation with 4 stockholders, Cartman, Stan, Kenny, and Kyle. Each stockholder owns 2 5 % of the stock at the

South Park is an S Corporation with 4 stockholders, Cartman, Stan, Kenny, and Kyle. Each stockholder owns 25% of the stock at the beginning of the year. On August 7th (219th day of the year) Kyle gives all of his shares to Stan. South Park earns $100,000 from January 1- August 7th and $150,000 from August 8th - December 31st. How much S Corp income will each shareholder recognize for the year if income is allocated using the Daily Method? HINT: Be sure to check your answers total to income for the full year = $250,000.
\table[[\table[[Cartman will recognize income],[for the year of]],],[\table[[Stan will recognize income for],[the year of]],],[\table[[Kenny will recognize income],[for the year of]],],[\table[[Kyle will recognize income for],[the year of]],]]
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