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Required information (The following information applies to the questions displayed below) Winkin, Blinkin, and Nod...

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Accounting

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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 conditions listed below, how much income should each report from SleepEZ for 2018 under both the daily allocation and the specific identification allocation method? Refer to the following table for the timing of SleepEZ's income. Period Income 125,000 345,500 January 1 through March 15 (74 days) March 16 through December 31 (291 days) January 1 through December 31, 2018 (365 days) 470,500 (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) b. On March 15, 2018, Blinkin sells his shares to Nod. Income Reported Daily Allocation Specific Identification Method Method 156,833 156,833 $ Winkin $ Blinkin Nod Next> of 31

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