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Problem 19-32 (Algorithmic) (LO. 1, 4) At the start of the current year,...

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Accounting

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Problem 19-32 (Algorithmic) (LO. 1, 4) At the start of the current year, Blue Corporation (a calendar year taxpayer) has accumulated E & P of $165,000. Blue's current E & Pis $99,000, and at the end of the year, it distributes $330,000 ($165,000 each) to its equal shareholders, Pooja and Jon. Pooja's stock basis is $23,100; Jon's stock basis is $92,400. How is the distribution treated for tax purposes? If an amount is zero, enter "o". Pooja has the following: Dividend income: $ Capital gain: Stock basis after distribution: Jon has the following: Dividend income: 1 Capital gain: Stock basis after distribution

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