Bonnie and Clyde are the only two shareholders in Getaway Corporation. Bonnie owns 60 shares...

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Accounting

Bonnie and Clyde are the only two shareholders in Getaway Corporation. Bonnie owns 60 shares with a basis of $4,500, and Clyde owns the remaining 40 shares with a basis of $13,500. At year-end, Getaway is considering different alternatives for redeeming some shares of stock. Evaluate whether each of the following stock redemption transactions will qualify for sale and exchange treatment.

Note: Leave no answer blank. Enter zero if applicable.

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Getaway redeems 10 of Bonnie's shares for $3,500. Getaway has $23,000 of E&P at year-end and Bonnie is unrelated to Clyde.
Getaway redeems 38 of Bonnie's shares for $7,000. Getaway has $23,000 of E&P at year-end and Bonnie is unrelated to Clyde.
Getaway redeems 5 of Clyde's shares for $4,000. Getaway has $23,000 of E&P at year-end and Clyde is unrelated to Bonnie.

Getaway redeems 10 of Bonnie's shares for $3,500. Getaway has $23,000 of E\&P at year-end and Bonnie is unrelated to Clyde. Note: Round your answers to the nearest whole number. Getaway redeems 38 of Bonnie's shares for $7,000. Getaway has $23,000 of E\&P at year-end and Bonnie is unrela Clyde. Note: Do not round intermediate calculations. Round your answers to the nearest whole number. Getaway redeems 5 of Clyde's shares for $4,000. Getaway has $23,000 of E\&P at year-end and Clyde is unrelated to Note: Round your answers to the nearest whole number

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