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Holbrook, a calendar years corporation, distributes $76,900 cash to its only shareholder, Cody, on December 31. Cody's basis in his stock is $92,280, Holbrook's AAA

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Holbrook, a calendar years corporation, distributes $76,900 cash to its only shareholder, Cody, on December 31. Cody's basis in his stock is $92,280, Holbrook's AAA balance is $34,605, and Holbrook has $11,535 AEP before the distribution. According to the distribution ordering rules, complete the chart below to indicate how much of the $76,900 is from AAA and AEP as well as how Cody's stock basis is affected. If an amount is zero, enter "o". Distribution from Account Effect on Stock Basis Basis in Stock Beginning stock basis $92,280 From AAA account 34,605 $ From AEP account $ $ $ 0 $ $ $ From Cody's stock basis Ending stock basis u

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