Question: ! Required information Comprehensive Problem 12-51 (LO 12-1, LO 12-2, LO 12-3) (Algo) [The following information applies to the questions displayed below.] Sharon Incorporated

! Required information Comprehensive Problem 12-51 (LO 12-1, LO 12-2, LO 12-3)

! Required information Comprehensive Problem 12-51 (LO 12-1, LO 12-2, LO 12-3) (Algo) [The following information applies to the questions displayed below.] Sharon Incorporated is headquartered in State X and owns 100 percent of Carol Corporation, Josey Corporation, and Janice Corporation, which form a single unitary group. Assume sales operations are within the solicitation bounds of Public Law 86-272. Each of the corporations has operations in the following states: Sharon Carol Janice Incorporated Corporation Corporation State X State Y State Z (throwback) (throwback) (nonthrowback) (nonthrowback) Josey Corporation State Z Domicile State Dividend income Business income $ 1,830 $ 595 $ 525 $ 530 46,500 43,250 14,200 19,500 Sales: State X 78,500 18,500 14,300 16,100 Sales: State Y 52,500 6,850 Sales: State Z 20,200 39,750 14,500 Sales: State A 29,300 Sales: State B 16,900 18,400 Property: State X 69,500 21,600 12,200 Property: State Y 86,500 Property: State Z 40,500 20,750 Property: State A 65,750 Payroll: State X 14,500 17,900 Payroll: State Y 55,250 Payroll: State Z 6,200 15,400 Payroll: State A 19,400 Compute the following for State X assuming a tax rate of 15 percent. Note: Use an equally weighted three-factor apportionment. Round all apportionment factors to 4 decimal places. Round other answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable. Comprehensive Problem 12-51 Part d (Algo) d. Determine the tax liability for State X for the entire group. State X Tax liability

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