Finch acquired all of the stock of Gull on January 1, 2007, for $250,000.The parties immediately elected to file consolidated tax returns.Gull generated taxable income of $30,000 for 2007 and paid a dividend of $25,000 to Finch.In 2008, Gull generated an operating loss of $90,000, and in 2009 produced taxable income of $30,000.As of the last day of 2009, what was Finch's basis in the stock of Gull?

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The Answer of Finch acquired all of the stock of Gull on January 1, 2007, for $250,000.The parties immediately elected to file consolidated tax returns.Gull generated taxable income of $30,000 for 2007 and paid a dividend of $25,000 to Finch.In 2008, Gull generated an operating loss of $90,000, and in 2009 produced taxable income of $30,000.As of the last day of 2009, what was Finch's basis in the stock of Gull?

Finch Acquired All of the Stock of Gull on January