Purple Corporation Has Accumulated E & P of $100,000 on January

question 170

Multiple Choice

Purple Corporation has accumulated E & P of $100,000 on January 1,2017.In 2017,Purple has current E & P of $130,000 (before any distribution) .On December 31,2017,the corporation distributes $250,000 to its sole shareholder,Cindy (an individual) .Purple Corporation's E & P as of January 1,2018 is:

• A)$0.
• B)($20,000).
• C)$100,000.
• D)$130,000.
• E)None of the above.

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Definitions:

Secular Language

Language that is non-religious and not affiliated with any spiritual beliefs, often used in contexts emphasizing impartiality.

Institutions

Structures or mechanisms of social order governing the behavior of a set of individuals within a given community, including laws, norms, and organizations.

Productive

The quality of being able to produce a substantial amount of goods, services, or crops efficiently and effectively.

Self-Disciplined

The ability to control one’s feelings, impulses, and actions, and to pursue goals with perseverance and determination.