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Star, Inc., an S corporation, has a beginning of year AAA balance of $526,000. During the year, the following items occur. Operating income $651,300 Interest
Star, Inc., an S corporation, has a beginning of year AAA balance of $526,000. During the year, the following items occur.
Operating income | $651,300 | |||
Interest income | $8,500 | |||
Dividend income | $17,600 | |||
Municipal bond interest income | $7,200 | |||
Long-term capital loss from sale of investment land | $9,600 | |||
Section 179 depreciation deduction | $7,800 | |||
Charitable contributions | $24,700 | |||
Cash distributions | $74,100 |
Star's ending AAA balance is:
|
$1,168,500
|
|
$1,087,200
|
|
$1,161,300
|
|
$1,080,000
|
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