This year, Sooner Company reports a deficit in current E&P of ($494,000). Its accumulated E&P at the beginning of the year was $308,000. Sooner distributed $616,000 to its sole shareholder, Boomer Wells, on June 30 of this year. Boomer's tax basis in his Sooner stock before the distribution is $76,000. (Leave no answer blank. Enter zero if applicable. Negative amount should be indicated by a minus sign.) a. How much of the $616,000 distribution is treated as a dividend to Boomer? Dividend c. What is Sooner's balance in accumulated E&P on the first day of next year? Balance in accumulated E&P at the beginning of next year