At the beginning of the current $($non$-$leap$)$ year, Douglass owns all of Butterfly Sensation Corporation's outstanding stock. His basis in the stock is $$78,000.$ On July $1,$ he sells all his stock to Rich for $$145,000$ During the year, Butterfly Sensation, a calendar year taxpayer, makes two cash distributions: $$68,000$ on March $1$ to Douglass and $$98,000$ on September $1$ to Rich. Consider the following independent situations: View the independent situations.

Read the requirement.

Begin b round $t$

a$.$ Curr

a$.$ Current E&P of $$45,000$; accumulated E&P of $$20,000.$

b$.$ Current E&P of $$102,000$; accumulated E&P $($deficit$)$ of $$(52,000).$

c$.$ Current E&P $($deficit$)$ of $)$; accumulated E&P of $$126,000.$

Independent Situations

any zero amounts. Use a $365-$day year for computations. Do not round intermediary calculations. Only