0 Required information [The following information applies to the questions displayed below.] begining This year, Sooner Company reports current E&P of negative $310,000. Its accumulated E&P at the beginning of the year was $204,000. Sooner distributed $408,000 to its sole shareholder, Boomer Wells, on June 30 of this year. Boomer's tax basis in his Sooner stock is $86,500. (Leave no answer blank. Enter zero if applicable. Negative amounts should be indicated by a minus sign.) e areholder, Boomer Weus epplicable. Negative amounts n hi Soertock is c. What is Sooner's balance in accumulated E&P on the first day of next year? Answer is complete but not entirely correct. Balance in accumulated E & P at the beginning of next year S (204,000)