Question: Exercise 12-14 (Algorithmic) (LO. 6) Dion, an S shareholder, owned 20% of MeadowBrook's stock for 292 days and 25% for the remaining 73 days

Exercise 12-14 (Algorithmic) (LO. 6) Dion, an S shareholder, owned 20% of

Exercise 12-14 (Algorithmic) (LO. 6) Dion, an S shareholder, owned 20% of MeadowBrook's stock for 292 days and 25% for the remaining 73 days in the year. Using the required per-day allocation method, compute Dion's share of the following S corporation items. Assume 365 days in a year. Schedule K Totals Dion's Schedule K-1 Totals $62,000 12,700 X Ordinary income Tax-exempt interest 620 Charitable contributions 3,100

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