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Dixie Corporation distributes $31,000 to its sole shareholder, Sally. At the time of the distribution, Dixie's E&P is $25,000 and Sally's basis in her Dixie stock is $10,000. Sally's basis in her Dixie stock after the distribution is
Horizontal Axis
In a graph or chart, the x-axis running horizontally, typically used to represent the independent variable or the base of comparison.
Vertical Axis
In a graph, the vertical line, usually representing the dependent variable or the measure of outcome.
Corn Chips
A snack food made from cornmeal fried or baked in oil, often seasoned.
French Fries
Sliced potatoes that are deep-fried and typically served as a side dish or snack.
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