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Respondent’s position is that the division of income should
be based on each individual's pro rata share of stock with the
result that income is increased or decreased in rounded numbers
as follows:
1993
Frank Thomas Bob Total
Owner: full year full year as of 9/1/93
� share
Jan.-Aug. $19,213 $19,213 $ 0 $38,425*
1/3 share
Sept.-Dec. 6,404 6,404 6,404 19,213
Income $25,617 $25,617 $ 6,404 $57,638
Less income
reported (4,611) (36,312) *$1.00
difference
Increase/ due to
decrease $21,006 ($10,695) rounding
1994
Frank Thomas Bob Total
Owner: full year full year full year
1/3 share
Jan.-Dec. $46,770 $46,770 $46,770 $140,310
Income $46,770 $46,770 $46,770 $140,310
Less income
reported (32,552) (54,861)
Increase/
decrease $14,218 ($8,091)
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Last modified: May 25, 2011