Peres, Inc., a calendar year S corporation, holds an AAA balance of $767,050 at the beginning of 2012. During the year, the following items are recorded.
| Sales income Don't use plagiarized sources. Get Your Custom Essay on peres inc a calendar year s corporation holds an aaa balance of 767 050 at the begin 699250 Get an essay WRITTEN FOR YOU, Plagiarism free, and by an EXPERT! | $206,000 |
| Loss from real estate operation | (5,000) |
| Officers’ life insurance proceeds | 100,000 |
| Premiums paid for officers’ life insurance | (3,600) |
| Dividend income | 17,000 |
| Interest income | 3,000 |
| Charitable contributions | (19,000) |
| §179 depreciation expenses | (2,500) |
| Administrative expenses | (42,000) |
| Cash distribution to shareholders | (71,300) |
Calculate Peres’s ending AAA balance.
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