Please I need help with this homework 49 LO 3 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 2021 under both the daily allocation and the specific identification allocation methods Refer to the following table for the timing of SleepEZs income Period Income January 1 through March 15 (74 days) $125,000 March 16 through December 31 (291 days) 345,500 January 1 through December 31, 2021 (365 days) $470,500 a There are no sales of SleepEZ stock during the year b On March 15, 2021, Blinkin sells his shares to Nod c On March 15, 2021, Winkin and Nod each sell their shares to Blinkin

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Question: Please I need help with this homework 49. [LO 3] Winkin, Blinkin, and Nod are equal shareholders in SleepEZ, an S corporation. In the conditions

Please I need help with this homework

49. [LO 3] 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 2021 under both the daily allocation and the specific identification allocation methods? Refer to the following table for the timing of SleepEZs income.

Period	Income
January 1 through March 15 (74 days)	$125,000
March 16 through December 31 (291 days)	345,500
January 1 through December 31, 2021 (365 days)	$470,500

a. There are no sales of SleepEZ stock during the year.

b. On March 15, 2021, Blinkin sells his shares to Nod.

c. On March 15, 2021, Winkin and Nod each sell their shares to Blinkin.

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