Question: 2don't attempt if you aren't confident in your ability. will thumbs down incorrect answers. Required Information [The following information applles to the questions displayed below.]

2don't attempt if you aren't confident in your ability. will thumbs down incorrect answers.
Required Information [The following information applles to the questions displayed below.] Jayhawk Company reports current E\&P of $310,000 and a deficit in accumulated E\&P of ($282,500). Jayhawk distributed $505,000 to Its sole shareholder, Rock, on the last day of the year. Rock's tax basis in the Jayhawk stock before the distribution is $128,750. Note: Leave no answer blank. Enter zero if appllcable. Negatlve amount should be Indicated by a minus sign. a. How much of the $505,000 distribution is treated as a dividend to Rock
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