Problem 5-34 (LO. 1, 3)

Complete the following schedule for each case. Assume that the shareholders have a sufficient basis in the stock investment.

All distributions are made at year end (December 31) except for part (e). For part (e) assume the $130,000 distribution is made on June 30. The corporation uses the calendar year for tax purposes.

If amount is zero, enter "0".

	Accumulated E & P Beginning of Year						Current E & P	Cash Distributions			Dividend Income	Return of Capital
a.	($200,000)						$70,000	$130,000			$fill in the blank 1	$fill in the blank 2
b.	150,000						(120,000)	210,000			$fill in the blank 3	$fill in the blank 4
c.	90,000						70,000	150,000			$fill in the blank 5	$fill in the blank 6
d.	120,000						(60,000)	130,000			$fill in the blank 7	$fill in the blank 8
e.	120,000						(60,000)	130,000			$fill in the blank 9	$fill in the blank 10