Brent, Matt, Chris, Brad, and Anwer are five unrelated shareholders who each own 20 of the 100 outstanding shares of Aggie Corporation. On June 30 of this year, Aggie distributed $100,000 in cash to the shareholders. On September 30 of this year, Aggie redeemed all of Anwer's shares for $80,000. Aggie had $45,000 of accumulated E&P at the beginning of the year and reported $120,000 of current E&P at year-end. What is Aggie's accumulated E&P at the beginning of next year? Consult Rev. Rul. 74-338, 1974-2 C.B. 101. (Hint: Determine the tax status of the redemption and then calculate the effect of the June distribution on current E&P.)(Negative amount should be indicated with a minus sign.)

Current E&P: ???

Less Dividends Paid: ???

Undistributed Current E&P: ???

Prorated Undistributed Current E&P at 9/30: ???

Add accumulated E&P at the beginning of year: ???

Total accumulated E&P at 9/30: ???

Reduce Accumulated E&P by: ???

Add current E&P in 4th quarter: ???

Accumulated E&P at beginning of next year: ???