Question: Exercise 15-1 (Algorithmic) (LO. 4) Dion, an S shareholder, owned 20% of MeadowBrook's stock for 292 days and 25% for the remaining 73 days in
Exercise 15-1 (Algorithmic) (LO. 4) 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. Ordinary income Tax-exempt interest Charitable contributions Schedule K Totals Dion's Schedule K-1 Totals $176,000 $ 1,760 $ 8,800
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