Required Information [The following information applies to the questions displayed below.) Sharon Inc. is headquartered...
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Required Information [The following information applies to the questions displayed below.) Sharon Inc. is headquartered in State X and owns 100 percent of Carol Corp., Josey Corp., and Janice Corp., 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 Inc. Carol Corp. Josey Corp. Janice Corp. State X State Y State Z S tate Z Domicile State (throwback) (throwback) (nonthrowback) (nonthrowback) Dividend income $ 1,200 $ 285 $ 490 $ 535 Business income $60,200 $ 53,000 $17,100 $10,600 Sales: State X $90,500 $ 17,700 $13,900 $15,800 $ 55,750 $ 6,450 $ 21,000 $20,500 $16,900 State A $20,300 $10,300 $16,200 Property: $63,250 $ 25,800 $19,000 $103,250 $40,750 $40,250 $56,750 Payroll: $11,200 $ 13,200 $ 44,750 $ 7,800 $17,100 $13,500 State Y State z in in in in in titit rttittiitit TTTTTTTP inn n n Compute the following for State X assuming a tax rate of 15 percent. (Use an equally welghted 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.) a. Calculate the State X apportionment factor for Sharon Inc., Carol Corp., Josey Corp., and Janice Corp. & Answer is complete but not entirely correct. Sharon Carol State X Apportionment factors 0.7581 0.2050 0.0000 0.2680 % Josey Janice
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