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The following information applies to the questions displayed below.] This year, Sooner Company reports current E&P...

The following information applies to the questions displayed below.] This year, Sooner Company reports current E&P of negative $398,000. Its accumulated E&P at the beginning of the year was $386,000. Sooner distributed $772,000 to its sole shareholder, Boomer Wells, on June 30 of this year. Boomer’s tax basis in his Sooner stock is $91,500. (Leave no answer blank. Enter zero if applicable. Negative amounts should be indicated by a minus sign.) a. How much of the $772,000 distribution is treated as a dividend to Boomer? b. What is Boomer’s tax basis in his Sooner stock after the distribution?    c. What is Sooner’s balance in accumulated E&P on the first day of next year?

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