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6. Famco is owned as follows: Shareholder Shares Owned Basis of Shares Owned Julie Kelly Roger David 100 400 100 1400 $100,000 $180,000 $100,000 $650,000

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6. Famco is owned as follows: Shareholder Shares Owned Basis of Shares Owned Julie Kelly Roger David 100 400 100 1400 $100,000 $180,000 $100,000 $650,000 Relationship to Other Shareholders Kelly and David's Child; Roger's girlfriend Julie's Mother; David's Wife Julie's boyfriend Julie's Father; Kelly's husband In each of the following INDEPENDENT situations, complete the blanks provided (16 total points) a. Julie and Roger want to buy a house together. They each propose to redeem 50 shares of stoc in exchange for $320,000. That is, each will redeem 50 shares and each gets $320,000. FAMCC has E&P of $700,000. %Ownership After Dollar Amount of Distribution Or Exchange Income Shareholder %Ownership Before Julie Roger

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