Please help regarding E&Ps, please explain calculations:

1-A11. Grand River Corporation reported taxable income of $750,000 in 20X3 and paid federal income taxes of $262,500. Not included in the computation was a disallowed meals and entertainment expense of $3,400, tax-exempt income of $2,400, and deferred gain on a current-year transaction treated as an installment sale of $32,000. The corporation's current E&P for 20X3 would be:

Multiple Choice

• $518,500.
• $779,600.
• $750,000.
• $489,900.

1-B12. Abbot Corporation reported a net operating loss of $500,000 in 20X3, which the corporation elected to carry forward to 20X4. Included in the computation of the taxable loss was regular depreciation of $200,000 (E&P depreciation is $35,000), first-year expensing under 179 of $60,000, and a dividends received deduction of $11,000. The corporation's current E&P for 20X3 would be:

Multiple Choice

• ($394,000).
• ($276,000).
• ($500,000).
• ($240,000).

1-C13. Bruin Company reports current E&P of $340,000 in 20X3 and accumulated E&P at the beginning of the year of $170,000. Bruin distributed $540,000 to its sole shareholder on January 1, 20X3. How much of the distribution is treated as a dividend in 20X3?

Multiple Choice

• $540,000
• $510,000
• $340,000
• $170,000

1-D14. Longhorn Company reports current E&P of $200,000 in 20X3 and a deficit of ($400,000) in accumulated E&P at the beginning of the year. Longhorn distributed $600,000 to its sole shareholder on January 1, 20X3. The shareholder's tax basis in his stock in Longhorn is $200,000. How is the distribution treated by the shareholder in 20X3?

Multiple Choice

• $600,000 dividend
• $200,000 dividend, $200,000 tax-free return of basis, and $200,000 capital gain
• $200,000 dividend and $400,000 tax-free return of basis

$0 dividend, $200,000 tax-free return of basis, and $400,000 capital gain