Complete the following schedule for each case. Unless otherwise indicated, assume that the shareholders have ample basis in the stock investment.

Cash

Accumulated distributions

E & P beginning (all on last dividend return of

Of year current E & P day of year) income capital

a. ($200,000) $70,000 $130,000 __________ ____________

b. 150,000 ($120,000) 210,000 __________ ____________

c. 90,000 70,000 150,000 __________ ____________

d. 120,000 (60,000) 130,000 __________ _____________

e. Same as (d), except that the distribution of $130,000

is made on June 30 and the corporation uses the

calendar year for tax purposes.

Complete the following schedule for each case. Unless otherwise indicated, assume that the shareholders have ample basis in the stock investment. Cash Accumulated distributions E & P beginning (all on last dividend return of Of year current E & P day of year) income capital a. ($200,000) $70,000 $130,000 __________ ____________ b. 150,000 ($120,000) 210,000 __________ ____________ c. 90,000 70,000 150,000 __________ ____________ d. 120,000 (60,000) 130,000 __________ _____________ e. Same as (d), except that the distribution of $130,000 is made on June 30 and the corporation uses the calendar year for tax purposes