Clampett, inc. has been an s corporation since its inception. on july 15, 2019, clampett, inc. distributed $50,000 to j. d. his basis in his clampett, inc. stock on january 1, 2019, was $30,000. for 2019, j. d. was allocated $10,000 of ordinary income from clampett, inc. and no separately stated items. what is the amount of income j. d. recognizes related to clampett, inc. in 2019?

Garrett is an executive vice president at samm hardware. he researches a proposal by a larger company, maximum hardware, to combine the two companies. by analyzing past performance, conducting focus groups, and interviewing maximum employees, garrett concludes that maximum has poor profit margins, sells shoddy merchandise, and treats customers poorly. what actions should garrett and samm hardware take? a. turn down the acquisition offer and prepare to resist a hostile takeover. b. attempt a friendly merger and use managerial hubris to improve results at maximum. c. welcome the acquisition and use knowledge transfer to impart sam hardware's management practices. d. do nothing; the two companies cannot combine without samm hardware's explicit consent.