Assume Lex Corp. reported current E&P of $40,000 and accumulated E&P was $16,000. On December 31, Lex Corps distributed $48,000 to Jim and $16,000 to Tracey. What amount of dividend income do Jim and Tracey. (mark a correct answer for each shareholder) report, and what is accumulated E&P for Lexi corp. at the beginning of next year? a. Jim - Dividend income $42,000 ($30,000 from current and $12,000 from accumulated) plus $6,000 return of capital b. Jim - Dividend $48,000 c. Tracey - Dividend $16,000 d. Tracey - Dividend $14,000 ($10,000 from current and $4,000 from accumulated) plus $2,000 return of capital e. Tracey - Return of Capital $14,000 ($10,000 from current and $4,000 from accumulated) plus $2,000 dividend f. Jim - Return of capital $42,000 ($30,000 from current and $12,000 from accumulated) plus $6,000 dividend g. Jim - Return of Capital $48,000 Oh. Tracey - Return of Capital $16,000