Question 3 O out of 2 points Hawkeye Company reports current E&P of $300,000 this year and accumulated E&P at the beginning of the year of $200,000. Hawkeye distributed $350,000 to its sole shareholder, Ray Kinsella, on December 31 of this year. Ray's tax basis in his Hawkeye stock is $75,000. How much of the $350,000 distribution is treated as a dividend to Ray