You need to understand the concept of E&P, which is a cumulative figure and not just a one year determination. My recommendation is to Google this concept or consult with a tax professional depending on the $$ involved. This forum is not designed as a back and forth consultation, which is why I recommend a one on one with a tax professional. Too many factors and issues.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
