Required information Problem 18-37 (LO 18-2) (Algo) Skip to question [The following information applies to the questions displayed below.] Jayhawk Company reports current E&P of $380,000 and a deficit in accumulated E&P of ($257,500). Jayhawk distributed $432,500 to its sole shareholder, Rock, on the last day of the year. Rock's tax basis in the Jayhawk stock before the distribution is $49,500. Note: Leave no answer blank. Enter zero if applicable. Negative amount should be indicated by a minus sign. Problem 18-37 Part a (Algo) Required: a. How much of the $432,500 distribution is treated as a dividend to Rock? Dividend