Business, 31.07.2020 16:01 genyjoannerubiera

Chaos Corp., a calendar year S corporation, had the following shareholder transactions during the year:. Max and Barbara (unrelated) owned 50% each through May 31.
On May 31, Barbara sold one-half of her shares to Siegfried.
On September 15, Barbara bought all of Max's shares and then on October 31, Barbara bought all but 1% of the shares back from Siegfried (thus after October 31, Barbara owned 99% and Siegfried owned 1%).
If Chaos wishes to allocate business income to the different periods based on the normal accounting rules, which shareholders must approve that decision?

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Chaos Corp., a calendar year S corporation, had the following shareholder transactions during the ye...

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