CB Corporation was formed as a calendar-year S corporation. Casey is a 60% shareholder and Bryant is a 40% shareholder. On September 30, 2016, Bryant sold his CB shares to Don. CB reported business income for 2016 as follows (assume that there are 365 days in the year):
How much 2016 income is allocated to each shareholder if CB corp. uses the daily method of allocating income?

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The Answer of CB Corporation was formed as a calendar-year S corporation. Casey is a 60% shareholder and Bryant is a 40% shareholder. On September 30, 2016, Bryant sold his CB shares to Don. CB reported business income for 2016 as follows (assume that there are 365 days in the year):
How much 2016 income is allocated to each shareholder if CB corp. uses the daily method of allocating income?

CB Corporation Was Formed as a Calendar-Year S Corporation