Alternative Basis Corp. has an accumulated earnings and profits $($E&P$)$ balance of $$61,600$ at the end of $2022.$ In $2023$ its current positive E&P was $$62,000$ and it distributed $$35,000$ on March $31$st$,$ $$40,000$ on June $30$th$,$ $$80,000$ on September $30$th and $$15,000$ on December $31$st$.$ There are $3$ parts to this problem. SHOW YOUR WORK

A$)$ What is the amount of the reduction in Accumulated Earnings and Profits for Alternative Basis Corp. for each quarterly distribution in $2023?$

March $31$st$\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

June $30$th$\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

September $30$th$\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

December $31$st$\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

B$)$ What is the ending Accumulated Earnings and Profits Balance as of December $31,2023$ given the above information?

Ending Balance$\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

C$)$ Assuming Alternative Basis Corp's sole shareholder, Randy, has a basis of $$27,500$ at the beginning of $2023,$ please provide his amount and character of income recognized from distributions based on the above information AND his ending stock basis.

Amount and Character of Income:$\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

Ending Stock Basis:$\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$