Complete the following schedule for each case unless

Question

Complete the following schedule for each case. Unless otherwise indicated, assume that the shareholders have ample basis in the stock investment.

                                                                                              Cash

Accumulated                                                                     distributions

E & P beginning                                                                 (all on last                            dividend              return of

Of year                                 current E & P                      day of year)                        income                 capital

a. ($200,000)                      $70,000                 $130,000                              __________     ____________

b. 150,000                            ($120,000)                           210,000                 __________     ____________

c. 90,000                               70,000                                   150,000                 __________     ____________

d. 120,000                            (60,000)                                130,000                 __________     _____________

e. Same as (d), except that the distribution of $130,000 is made on June 30 and the corporation uses the calendar year for tax purposes.