Question: Q 4-6 C Hi I need help with this question This year, Sooner Company reports current E&P of negative $488,000. Its accumulated E&P at the

Q 4-6 C

Hi I need help with this question

This year, Sooner Company reports current E&P of negative $488,000. Its accumulated E&P at the beginning of the year was $304,000. Sooner distributed $608,000 to its sole shareholder, Boomer Wells, on June 30 of this year. Boomers tax basis in his Sooner stock is $100,500.(Leave no answer blank. Enter zero if applicable.Negative amounts should be indicated by a minus sign.)

What is Sooners balance in accumulated E&P on the first day of next year?

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