also, fill out this form using the answers provided on this question.

40. Lone Star Company is a calendar-year corporation, and this year Lone Star reported $100,000 in current E\&P that accrued evenly throughout the year. At the beginning of the year, Lone Star's accumulated E\&P was $12,000. Lone Star declared $30,000 in cash distributions on each of the following dates: April 1, July 1, October 1, and December 31. Page 7-33 a) How much of the $120,000 in total distributions will be treated as dividends? b) Suppose that Matt owned all of Lone Star's shares at the beginning of the year and sold half of the shares to Chris on June 1 for $40,000. How much dividend income will Matt recognize this year? c) If Matt's basis in the Lone Star shares was $7,000 at the beginning of the year, how much capital gain will he recognize on the sale and distributions from Lone Star? d) Prepare a draft of Lone Star's Form 5452 for this year. F Corporate Distributions (see instructions) also, fill out this form using the answers provided on this