Comprehensive Problem 7-67 (LO 7-1, LO 7-2, LO 7-3, LO 7-4, LO 7-5) Thriller Corporation has one class of voting common stock, of which 1,000 shares are issued and outstanding. The shares are owned as follows: Joe Jackson Mike Jackson Joe's son) Jane Jackson Joo'daughter Vinnie Drice [unrelated Total shares 200 200 1.000 Thriller Corporation has current E&P of $400,000 for this year and accumulated E&P at January 1 of this year of $60,000. During this year, the corporation made the following distributions to its shareholders 03/31 Distributed $100 per share to each shareholder $100,000 in total) 06/30: Distributed $100 per share to each shareholder $100.000 in total) 09/30: Distributed $100 per share to each shareholder $100.000 in total) 12/31 Redeemed all of Vinnie's shares for $250,000 in cash a. Determine the tax status of each distribution made this year. Treatment Joe distribution on 03/31 distribution on 06/30 distribution on 09/30 distribution on 12/31 b. Compute the corporation's accumulated E&P at January 1 of next year. (Do not round Intermediate calculations)