979.35. A qualified shipowner is required for a taxation year to keep separate accounting for the tax-free reserve that must state(a) the total value of the qualified property within the reserve at the beginning of the year or, if later, on the day on which the reserve was created;
(b) all eligible additions to the reserve made in the year and all eligible withdrawals from the reserve made in the year;
(c) the interest and dividend income received in the year that is attributable to qualified property within the reserve;
(d) in relation to the disposition in the year of qualified property within the reserve, the amount by which the proceeds of disposition of the property exceeds the expenditures made for the purpose of making the disposition; and
(e) the total value of the qualified property in the reserve at the end of the year.