33. X Corporation, a calendar year corporation, began the current year ("Current Year") with Accumulated of S3,OOO. X' Current E&P for the Current Year is S4,OOO. X had five shareholders, A, B, C, D and E. They were all unrelated and each owned 40 shares of X' only class of stock outstanding, and each had an adjusted basis of S 10 per share ($400 total). During the Current Year: (i) On May 5, X distributed $1,000 cash to each B, C, D and E; (ii) On October I (exactly % of the way through the year) X redeemed 20 shares Of stock from A in exchange for SI 6,000 cash; and (iii) On November I , X redeemed S shares of stock from B in exchange for S4,OOO cash, What income, gain or loss, if any, does A recognize as result of the October redemption? a. income, gain or loss, does B as a result 23 redemption? What income, gain or loss, if any does C recognize as a result of the May 5 distribution? d. What is X' accumulated at the beginning of the next year? , HOW the to questions d Change, Current Were instead of $4,000?