On January $1,2023,$ Kinney, Inc., an S corporation, reports $$38,400$ of accumulated E & P and a balance of $$96,000$ in AAA. Kinney has two

shareholders, Erin and Frank, each of whom owns $500$ shares of Kinney's stock. Kinney's nonseparately stated ordinary income for the year

is $$48,000.$

Kinney distributes $$57,600$ to each shareholder on July $1,$ and it distributes another $$28,800$ to each shareholder on December $21.$ How are

the shareholders taxed on the distributions? Ignore the $20\%$ QBI deduction.

Do not round intermediate computations. If required, round your final answers to the nearest dollar.

Erin and Frank each report $$,x$ dividend income for the July $1$ distribution and $$,x$ each for the

December $21$ distribution. Assuming that the shareholders have sufficient basis in their stock, Erin and Frank each receive a

$$$

distribution from AAA.