Assume the following S corporations, gross receipts, passive investment income, and corporate earnings and profit. Will any of these corporations have its S election terminated due to excessive passive income? If so, in what year? All became S corporations at the beginning of year 1.

Note: Leave no answer blank. Select "NA" if no effect.

Problem 11-47 Part c (Algo)

c. Jelena Corporation

Year	Gross Receipts	Passive Investment Income	Corporate Earnings and Profits
1	$ 1,008,278	$ 270,700	$ 0
2	708,750	321,180	0
3	804,630	421,070	0
4	903,360	371,170	0
5	681,500	311,077	0

Would the S election be terminated? (yes/no)

What year?

-N/a

-Year 1

-Year 2

-Year 3

-Year 4

-Year 5

-Year 6

Please explain your work thank you