: Cindy Smith, Jemma Jones, and Chance Armstrong form CJC, Inc. as an S corporation in 2015. Cindy and Jemma are U.S. citizens; Chance is a French citizen but a U.S. resident. Chance's father has recently been diagnosed with a terminal illness, and Chance has decided to move back to France to take care of his father and his affairs. Chance anticipates that he will live in France for several years and that he no longer would be considered a U.S. resident.

1. If you were Cindy or Jemma, how would you react to Chance's decision to move?
2. Would you ignore the impact Chance's move may have on CJC's S corporation status?
3. If there is an impact, what steps could you take to resolve any problems?
4. Provide support, with proper citations, for your response.