In its fifth year of operations, Shocker, Inc., a C corporation, had current earnings and profits of

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Question:

In its fifth year of operations, Shocker, Inc., a C corporation, had current earnings and profits of $49,000. At the end of its fourth year of operations, accumulated earnings and profits were $101,000. During the fifth year, Shocker made four distributions on the dates indicated in the table below. Allocate the distribution amounts to current E&P, accumulated E&P, and excess distribution as appropriate.

Enter the appropriate amounts in the designated cells below. Enter all amounts as positive values. If no entry is necessary, enter a zero (0).

Distribution dates	Distribution amounts	Current E&P	Accumulated E&P at 12/31/Year 4	Excess distribution
3/31/Year 5	$35,000
6/30/Year 5	$40,000
9/30/Year 5	$45,000
12/31/Year 5	$55,000