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Exercise 12-16 (Algorithmic) (LO. 6) Holbrook, a calendar years corporation, distributes $135,700 cash to its only shareholder, Cody, on December 31. Cody's basis in his

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Exercise 12-16 (Algorithmic) (LO. 6) Holbrook, a calendar years corporation, distributes $135,700 cash to its only shareholder, Cody, on December 31. Cody's basis in his stock is $162,840, Holbrook's AAA balance is $61,065, and Holbrook has $20,355 EP before the distribution. According to the distribution ordering rules, complete the chart below to indicate how much of the $135,700 is from AAA and AEP as well as how Cody's stock basis is affected. If an amount is zero, enter "0". Distribution from Account Basis in Stock Effect on Stock Basis Beginning stock basis $162,840 From AAA account From AEP account From Cody's stock basis Ending stock basis

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