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This year, Sooner Company reports current E&P of negative $376,000. Its accumulated E&P at the beginning of the year was $226,000. Sooner distributed $452,000 to

This year, Sooner Company reports current E&P of negative $376,000. Its accumulated E&P at the beginning of the year was $226,000. Sooner distributed $452,000 to its sole shareholder, Boomer Wells, on June 30 of this year. Boomers tax basis in his Sooner stock is $113,000. (Leave no answer blank. Enter zero if applicable. Negative amounts should be indicated by a minus sign.) 4. value: 1.00 points Required information a. How much of the $452,000 distribution is treated as a dividend to Boomer? References eBook & Resources ProblemDifficulty: 2 MediumLearning Objective: 18-02 Compute a corporation's earnings and profits and a shareholder's dividend income. Check my work 5. value: 1.00 points Required information b. What is Boomers tax basis in his Sooner stock after the distribution? References eBook & Resources ProblemDifficulty: 2 MediumLearning Objective: 18-02 Compute a corporation's earnings and profits and a shareholder's dividend income. Check my work 6. value: 1.00 points Required information c. What is Sooners balance in accumulated E&P on the first day of next year?

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