W C c VA x S * M I X S + X ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fm... . . . Unit 6 Lab Quiz i Saved Help Save & Exit Submit This question will be sent to your instructor for grading. ABC was formed as a calendar-year S corporation with Alan, Brenda, and Conner as equal shareholders. On May 1, 13 2020, ABC's S election was terminated after Conner sold his ABC shares (one-third of all shares) to his solely owned C corporation, Conner, Incorporated ABC reported business income for 2020 as follows: (Assume that there are 365 days in the year.) Period Income eBook January 1 through April 30 (120 days) $ 205, 110 May 1 through December 31 (245 days) 535, 110 January 1 through December 31 $ 740, 220 If ABC uses the daily method of allocating income between the S corporation short tax year (January 1-April 30) and the C corporation short tax year (May 1-December 31), how much income will it report on its S corporation short tax year return and its C corporation short tax year return for 2020? Essay Toolbar navigation BIUSBEE EEVAL v Mc Graw Hill O 8 9 0 1:12