5. PR.15-23 Problem 15-23 (LO. 4, 5, 6) Valence Corporation's Form 11205 shows ordinary income of $88,000 for the year. Daniel owns 40% of the Valence stock throughout the year. The following information is obtained from the corporate records: Salary paid to Daniel ($40,000) Tax-exempt interest income 5,000 Charitable contributions (6,000) Dividends received from a non-U.S. corporation 5,000 Long-term capital loss (6,000) Depreciation recapture income 11,000 Refund of prior-year state income taxes 5,000 Cost of goods sold (80,000) Short-term capital loss (7,000) Administrative expenses (18,000) Short-term capital gain 14,000 Selling expenses (11,000) Daniel's beginning stock basis 32,000 Daniel's additional stock purchases 9,000 Beginning AAA 45,000 Daniel's loan to corporation $20,000 a. Valence's book is $ $ b. Daniel's ending stock basis is $ c. Ending corporate AAA is $