Required information [The following information applies to the questions displayed below.] Jayhawk Company reports current E&P of $320,000 and a deficit in accumulated E&P of ($380,000). Jayhawk distributed $465,000 to its sole shareholder, Rock, on the last day of the year. Rock's tax basis in the Jayhawk stock before the distribution is $97,000. Note: Leave no answer blank. Enter zero if applicable. Negative amount should be indicated by a minus sign. c. What is Jayhawk's balance in accumulated E&P on the first day of next year? Balance in accumulated E&P at the beginning of next year