15 Part 4 of 4 178 gints Required information The following information applies to the questions displayed below. Assume the following year 2 Income statement for Johnstone Corporation, which was a C corporation in year 1 and elected to be taxed as an S corporation beginning in year 2. Johnstone's earnings and profits at the end of year 1 were $12.990. Marcus is Johnstone's sole shareholder, and he has a stock basis of $51.500 at the end of year 1 Johnstone Corporation Incore Statement Decorber 31, Year 2 Year 2 (s Corporation) Sales revenue $ 100,00 Cost of goods sold (45,500 Salary to uners (71,5e) Employee wees (oz,eee) Depreciation expense (15,580) Miscellaneous expenses (5,150) Interest incong 14,410 Overall not inconc 5 9,760 What is Johnstone's accurrulated adjustments account at the end of year 2, and what amount of dividend income does Marcus recognize on the year 2 distribution in each of the following alternative scenarios? (Leave no answer blank. Enter zero if applicable.) d. Johnstone distributed $78,300 to Marcus in year 2 Answer is complete but not entirely correct. Accumulated adjustments account $ $ Dividend income 1420