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34. LO.1, 3 Complete the following schedule for each case. Unless otherwise indicated, assume that the shareholders have ample basis in the stock investment. Dividend
34. LO.1, 3 Complete the following schedule for each case. Unless otherwise indicated, assume that the shareholders have ample basis in the stock investment. Dividend Income Return of Capital a. b. C. d. Accumulated E&P Cash Distributions Beginning of (All on Last Day Year Current E&P of Year) ($200,000) $ 70,000 $130,000 150,000 (120,000) 210,000 90,000 70,000 150,000 120,000 (60,000) 130,000 Same as part (d), except that the distribution of $130,000 is made on June 30 and the corporation uses the calendar year for tax purposes. e
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