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Balloon Corp. (a C corporation) reports current E&P of $310,000 in 2018 and accumulated E&P...

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Balloon Corp. (a C corporation) reports current E&P of $310,000 in 2018 and accumulated E&P at the beginning of 2018 of $155,000. Balloon Corp. distributed $510,000 to its sole shareholder on January 1, 2018. How much of the distribution is treated as a dividend in 2018? Multiple Choice $310,000. $510,000. $155,000. O $465,000

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