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Question - Wilde Corporation has a positive balance in Accumulated E & P of $114,000 and a positive balance in Current E & P of $48,000. During the year, Wilde made the following cash distributions to its sole shareholder, Beth: April 30: $83,600 August 31: $37,400 December 31 $99,000 Beth has a stock basis of $45,260.
Required - Calculate the effects of each distribution, including the breakdown on Form 1099. Round the percentages to two decimal places. Show all calculation.
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A company's inventory was completely destroyed in a fire on March 21, 2013. What is the estimated cost of the inventory that was destroyed on March 21, 2013
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