Amit, Inc., an S corporation, holds an AAA balance of $614,000 at the beginning of the tax year. During the year, the following items occur. Operating income $501,000
Interest income 6,500
Dividend income 13,020
Municipal bond interest income 6,000
Long-term capital loss from sale of investment land 7,400
Section 179 depreciation deduction 6,000
Charitable contributions 19,000
Cash distributions 57,000

Amitâs ending AAA balance is:

a. $1,045,120.
b. $1,051,120.
c. $1,191,150.
d. $1,242,150.
e. Some other amount.

Juanita and sam attend a beach party and notice that the local beach appears to have a great deal more trash washed up on shore than it did when they were young. the water doesn't appear nearly as clear, and there seems to be less evidence of small water creatures living in the shallows. an afternoon at the local library convinces them that one major cause is the new factory nearby. after some discussion, they decide their next step should be identifying the cause of the changes identifying the problem picketing the guilty factory lobbying their elected representatives to complain about the problem talking to a local environmental group about solutions