This year, Sooner Company reports current E&P of negative $478,000. Its accumulated E&P at the beginning of the year was $392,000. Sooner distributed $784,000 to its sole shareholder, Boomer Wells, on June 30 of this year. Boomers tax basis in his Sooner stock is $120,000. (Leave no answer blank. Enter zero if applicable. Negative amounts should be indicated by a minus sign.)

a. How much of the $784,000 distribution is treated as a dividend to Boomer? b. What is Boomers tax basis in his Sooner stock after the distribution? c. What is Sooners balance in accumulated E&P on the first day of next year?