Accum E & P Cash Distribs Return of

1^st of year Curr E&P Last day or Yr Amt Taxable cap

37-38 $150,000 $40,000 $120,000 37 38___

39-40 $40,000 $80,000 $90,000 39 40___

41-42 ($180,000) $100,000 $60,000 41 42___

43-44 $120,000 ($110,000) $90,000 43 44___

45-46 $120,000 ($110,000) $80,000* 45 46___

Complete the above schedule for each separate case.

* In the last case assume the distribution is on June 30 and the corporation uses the calendar year for tax.

Please choose the correct answer for each of the above numbered blanks from the answers given. For questions 37 & 38 the answers are:

a. $150,000

b. $40,000

c. $120,000

d. 0

e. None of the above