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This is the first year of operations for StanLeeMarvolo Corporation. The Company was extremely profitable in its first year and paid out distributions of $100,000
This is the first year of operations for StanLeeMarvolo Corporation. The Company was extremely profitable in its first year and paid out distributions of $100,000 to the shareholders. The initial investment by the owners was $10,000. StanLeeMarvolo correctly calculated its current year E&P at $89,000 and its taxable income as $94,000. Which of the following is a true statement? O Dividend $89,000, Return of Capital $11,000 O Dividend $100,000 O Dividend $94,000, Return of Capital $6,000 O Dividend $89,000, Return of Capital $10,000, Taxable Distribution $1,000
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