! Required information [The following information applies to the questions displayed below.] Assume the following S corporations, gross receipts, passive investment income, and corporate E&P. Will any of these corporations have its S election terminated due to excessive passive income? If so, in what year? All became S corporations at the beginning of year 1. (Leave no answer blank. Select "NA" if no effect.) c. Tiffany Corporation Year 12345 Gross Receipts $ 1,002,498 704,500 Passive Investment Income $ 255,400 Corporate Earnings and Profits $ 0 305,880 801,485 405,770 901,150 355,870 673,000 295,777 OOOOO 0 0 0 0 Would the S election be terminated? No NA