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 |
$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.