As of January 1,2012,Crimson Corporation,a calendar year C corporation,has a deficit of $300,000 in accumulated E & P.For 2012,it has current E & P of $100,000,and during the year distributes $120,000 as a dividend to the shareholders.Comment on the following assumptions.

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The Answer of As of January 1,2012,Crimson Corporation,a calendar year C corporation,has a deficit of $300,000 in accumulated E & P.For 2012,it has current E & P of $100,000,and during the year distributes $120,000 as a dividend to the shareholders.Comment on the following assumptions.

As of January 1,2012,Crimson Corporation,a Calendar Year C Corporation,has a Deficit