Holbrook, a calendar year S corporation, distributes $169,300 cash to its only shareholder, Cody, on December 31. Cody's basis in his stock is $203,160, Holbrook's AAA balance is $76,185, and Holbrook has $25,395 AEP before the distribution. According to the distribution ordering rules, complete the chart below to indicate how much of the $169,300 is from AAA and AEP as well as how Cody's stock basis is affected. If an amount is zero, enter "O". Distribution from Effect on Basis in Stock Account Stock Basis Beginning stock basis $203,160 From AAA account From AEP account IIII 000 III From Cody's stock basis Ending stock basis Vogel, Inc., an S corporation for five years, distributes a tract of land held as an investment to Jamari, its majority shareholder. The land was purchased for $78,600 ten years ago and is currently worth $196,500. If an amount is zero, enter, "O". a. As a result of the distribution, what is Vogel's recognized capital gain? How much is reported as a distribution to shareholders? Vogel recognizes of $ which is reported on Schedule K, and 1. Jamari would basis in the land. take a $ b. What is the net effect of the distribution on Vogel's AAA? There is a net of $ on Vogel's AAA. C. Assume instead that the land had been purchased for $196,500 and was currently worth $78,600. How much would Vogel recognize as a loss? What would be the net effect on Vogel's AAA? What would be Jamari's basis in the land? Vogel recognizes a loss $ and the net effect on Vogel's AAA is of $ Jamari would take a $ basis in the land