Towne, Inc., a calendar year S corporation, holds AAA of $627,050 at the beginning of 2014. During the year, the following items occur.
Sales income $216,000
Loss from real estate operations (4,000)
Officers' life insurance proceeds 100,000
Premiums paid for officers' life insurance (3,600)
Dividend income 17,000
Interest income 3,000
Charitable contributions (22,000)
§ 179 depreciation expense (2,500)
Administrative expenses (35,000)
Cash distributions to shareholders (73,220)
Calculate Towne's ending AAA balance.

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The Answer of Towne, Inc., a calendar year S corporation, holds AAA of $627,050 at the beginning of 2014. During the year, the following items occur.
Sales income $216,000
Loss from real estate operations (4,000)
Officers' life insurance proceeds 100,000
Premiums paid for officers' life insurance (3,600)
Dividend income 17,000
Interest income 3,000
Charitable contributions (22,000)
§ 179 depreciation expense (2,500)
Administrative expenses (35,000)
Cash distributions to shareholders (73,220)
Calculate Towne's ending AAA balance.