Aaa of amit, inc. an s corporation, has a balance

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Reference no: EM13915675

8. (TCOs 1 and 10) Beginning in 2010, the AAA of Amit, Inc. an S corporation, has a balance of $725,000. During the year, the following items occur:

Operating income	$472,000
Interest income	$6,500
Dividend income	$14,050
Municipal bond interest income	$6,000
Long-term capital loss from sale of investment land	$7,400
Charitable contributions	$19,000
Cash distributions to shareholders	$57,000

What is Amit's ending AAA balance?

      $1,153,150
       $1,134,150
       $1,127,650
       $1,126,750

Reference no: EM13915675

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