What is Peach accumulated E-P at the beginning of years

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Reference no: EM133222612

Question - Investors formed Peach Corporation in Year 1. Its current E&P (or current deficit and distributions for Years 1 through 4 are as follows:

Year Current E&P (Deficit) Distributions

1 ($18,000) $2,000

2. ($12,000) $0

3. $10,000 $5,000

4. $14,000 $17,000

Required - What is Peach's accumulated E&P at the beginning of years 3 and 4? Show detail work for your calculations. A single answer without showing the calculations would receive a partial credit.

Reference no: EM133222612

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