X Corp. has 200 shares of its stock outstanding as follows: Anne60 shs.; Bruce 60 shs.; and Cooper 80 shs. X Corp.??s E & P

X Corp. has 200 shares of its stock outstanding as follows: Anne60 shs.; Bruce 60 shs.; and Cooper 80 shs. X Corp.â??s E & P =$400,000. X Corp. redeems 40 shares of Cooperâ??s stock for$60,000. 2 answers