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Four unrelated shareholders own Benton Corporation's 400 shares of outstanding stock. As indicated below, Benton redeems a total of 100 shares for $500 per share

image text in transcribed Four unrelated shareholders own Benton Corporation's 400 shares of outstanding stock. As indicated below, Benton redeems a total of 100 shares for $500 per share from three of its shareholders. Each shareholder has a $230 per share basis in his or her stock. Benton's current and accumulated earnings and profits (E\&P) at the end of the tax year is $150,000. to Ethel, Fran, and Georgia? Shareholder Data Requirement b. How would your answer to Part a change if Ethel were Georgia's mother

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