Required information [The following information applies to the questions displayed below.] This year, Sooner Company reports a deficit in current E\&P of ($426,000). Its accumulated E\&P at the beginning of the year was $264,000. Sooner distributed $528,000 to its sole shareholder, Boomer, on June 30 of this year. Boomer's tax basis in the Sooner stock before the distribution is $124,500. Note: Leave no answer blank. Enter zero if applicable. Negative amount should be indicated by a minus sign. b. What is Boomer's tax basis in the Sooner stock after the distribution? Required information [The following information applies to the questions displayed below] This year, Sooner Company reports a deficit in current E\&P of ($426,000). Its accumulated E\&P at the beginning of the year was $264,000. Sooner distributed $528,000 to its sole shareholder, Boomer, on June 30 of this year, Boomer's tax basis in the Sooner stock before the distribution is $124,500. Note: Leave no answer blank. Enter zero if applicable. Negative amount should be indicated by a minus sign. c. What is Sooner's balance in accumulated E\&P on the first day of next year