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Last year, Miley decided to terminate the S corporation election of her solely owned corporation on October 17, 2018 (effective immediately), in preparation for taking it public. At the time of the election, the corporation had an accumulated adjustments account balance of $159,000 and $457,500 of accumulated E&P from prior C corporation years, and Miley had a basis in her S corporation stock of $141,750. During 2019, Miley's corporation reported $0 taxable income or loss. Also, during 2019 the corporation made distributions to Miley of $84,500 and $63,000.
Problem 1: How are these distributions taxed to Miley assuming the following? (Leave no answer blank. Enter zero if applicable. Enter N/A if not applicable.)
You have been assigned to train new consultants to assist with financial statement analysis for your clients. Written towards the new consultants, 1)
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a) Find the proportions of men and women who said they use the Internet at least occasionally. b) What is the difference in proportions? c) What is the standard error of the difference?
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