This year, Sooner Company reports current E&P of negative $368,000. Its accumulated E&P at the beginning of the year was $224,000. Sooner distributed $448,000 to its sole shareholder, Boomer Wells, on June 30 of this year. Boomer's tax basis in his Sooner stock is $90,000.

1. How much of the $448,000 distribution is treated as a dividend to Boomer?
2. What is Boomer's tax basis in his Sooner stock after the distribution?
3. What is Sooner's balance in accumulated E&P on the first day of next year?