Sooner Company reports current E P of negative $400,000. It's accumulated E P at the beginning of the year was $316,000.

Sooner Company reports current E & P of negative $400,000.  It's accumulated E & P at the beginning of the year was $316,000.  Sooner distributed $632,000 to it's sole shareholder, Boomer Wells, on June 30th of this year.  Boomer's tax basis in his Sooner stock is $110,000.

A. How much of the $632,000 distribution is treated as a dividend to Boomer?

B. What is Boomer's tax basis in his Sooner stock after the distribution?

C. What is Sooner's balance in accumulated E & P on the first day of the next year?