Step by step explanation.

IV. (12 Points) Complete the following schedule for each case. Assume the shareholders have a basis in this investment of $40,000. Accumulated E&P Current Beginning of year E&P Cash Distribution Return Capital (All on Last Dividend of Day of Year) Income Capital Gains A. ($150,000) $70,000 $140,000 B.130,000 50,000 190,000 C. 120,000 (40,000) 130,000 D. Same as (C) except distribution of $130,000 is made on June and the corporation uses the calendar for Tax purposes