For each of the following independent distributions to shareholders, determine the impact on E\&P; recognized gain, if any, to the distributing corporation; the amount of the dividend; and the basis in the property to the distributee, assuming ample E\&P to start with:

a. A cash distribution of \(\$ 50,000\).

b. The distribution of an IOU with a face value of \(\$ 50,000\) and a market value of \(\$ 45,000\).

c. The distribution of inventory with a basis of \(\$ 2,000\) and a value of \(\$ 5,000\) to an individual shareholder.

d. The distribution of land with a basis of \(\$ 25,000\), a mortgage of \(\$ 40,000\), and a value of \(\$ 100,000\) to an individual shareholder.