Problem $5-24($Algorithmic$)($LO$.1,4)$

At the start of the current year, Blue Corporation $($a calendar year taxpayer$)$ has accumulated E & P of $$270,000.$ Blue's current E & P is $$162,000,$ and at the end of the year, it distributes $$540,000($$$270,000$ each$)$ to its equal shareholders, Pooja and Jon. Pooja's stock basis is $$37,800$; Jon's stock basis is $$151,200.$

How is the distribution treated for tax purposes?

If an amount is zero, enter $"0".$

Pooja has the following:

Dividend income:

Capital gain:

Stock basis after distribution:

Jon has the following:

Dividend income:

Capital gain:

Stock basis after distribution: