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Exercise 1 2 - 1 6 ( Algorithmic ) ( LO . 7 ) Holbrook, a calendar year 5 corporation, distributes ( $

Exercise 12-16(Algorithmic)(LO.7) Holbrook, a calendar year 5 corporation, distributes \(\$ 55,900\) cash to its only shareholder, Cody, on December 31, Cody's basis in hir stock: is \(\$ 67,080\), Holbcook's AAA balance is \(\$ 25,155\); and Holbrook has \(\$ 8,385\) AEP before the distribution: According to the distribution ordering rules, complete the chart below to indicate how much of the \(\$ 55,900\) is from AAA and AEP as well as how Cody's stock basis is affected. If an amount is zero, enter "0".Exercise 12-16(Algorithmic)(LO.7)
Holbrook, a calendar year S corporation, distributes $93,700 cash to its only shareholder, Cody, on December 31. Cody's basis in his stock
is $112,440, Holbrook's AAA balance is $42,165, and Holbrook has $14,055 AEP before the distribution. According to the distribution
ordering rules, complete the chart below to indicate how much of the $93,700 is from AAA and AEP as well as how Cody's stock basis is
affected.
If an amount is zero, enter "0".
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