Neal Corporation Was Initially Formed as a C Corporation with a Calendar

Neal Corporation was initially formed as a C corporation with a calendar year-end.Neal elected S corporation status, effective January 1, 2019.On December 31, 2018, Neal Corp.reported earnings and profits of $150,000.Beginning in 2019, Neal Corp.reported the following information.Does Neal Corp.'s S election terminate due to excess net passive income? If so, what is the effective date of the termination?
$\begin{array}{c}\begin{array}{lll}\\\\\text {Year}\\2019\\2020\\2021\\2022\\2023\\\end{array}\begin{array}{c}\text {Gross receipts (including passive }\\\text {investment income)}\\\$ 400,000 \\\$ 300,000 \\\$ 500,000 \\\$ 400,000 \\\$ 600,000\end{array}\begin{array}{lll}\text {Passive}\\\text {investment}\\\text {income}\\ \$ 120,000\\\$ 70,000\\ \$ 130,000\\\$ 110,000\\\$155,000\end{array}\begin{array}{lll}\text {Corporate earnings}\\ \text {and profits}\\\text { (end of year)}\\\$ 140,000 \\ \$ 100,000 \\ \$ 70,000 \\ \$ 40,000 \\ \$ 1,000\end{array}\end{array}$