Required information Problem 7-33 (LO 7-2) The following information applies to the questions displayed below.] Part 2 of 3 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 $400,000 to its sole shareholder, Ray Kinsella, on December 31 of this year. Ray's tax basis in his Hawkeye stock is $75,000. points Problem 7-33 Part b Print b. What is Ray's tax basis in his Hawkeye stock after the distribution? Tax basis Required information Problem 7-33 (LO 7-2) The following information applies to the questions displayed below.] Part 2 of 3 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 $400,000 to its sole shareholder, Ray Kinsella, on December 31 of this year. Ray's tax basis in his Hawkeye stock is $75,000. points Problem 7-33 Part b Print b. What is Ray's tax basis in his Hawkeye stock after the distribution? Tax basis