Question: PROBLEM 1 (25 POINTS) Capezza Corporation has a positive balance in AccumulatedE &P of $65,000 and a positive balance in Current E & P of

PROBLEM 1 (25 POINTS) Capezza Corporation has a positive balance in AccumulatedE &P of $65,000 and a positive balance in Current E & P of $17,000. During the year, Capezza made the following cash distributions to its sole shareholder, Diane: April 30: $52,110 August 31: $67,550 December 31 $73,340 Diane has a stock basis of $44,390. Required: Calculate the effects of each distribution, including the breakdown on Form 1099. Round the percentages to two decimal places. Example: .1354 rounds to 14% SHOW ALL CALCULATIONS

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