At the beginning of the current (non-leap) year, Douglass owns all of Pearl's outstanding stock. His basis in the stock is $78,000. On July 1, he sells all his stock to Ducky for $122,000. During the year, Pearl, a calendar year taxpayer, makes two cash distributions: $54,000 on March 1 to Louis and $90,000 on September 1 to Ducky.

Consider the following independent situations:

a.	Current E&P of $48,000; accumulated E&P of $24,000.
b.	Current E&P of $95,000; accumulated E&P (deficit) of $(54,000).
c.	Current E&P (deficit) of $(36,500); accumulated E&P of $126,000.

Fill in all tables. Numbers and names from previous problem to show set up. Names should be (1) Douglass and (2) Ducky

Begin by completing the table for the distributions. (Complete all answer boxes. For zero amounts, make sure to enter '0" in the appropriate cell. Use a 365-day year for computations. Do not round intermediary calculations. Only round the amount you input in the cell to the nearest dollar.) Return Situation Individuel Date E and P E and P of capital 15,857 63,143 79,000 18,857 29,143 48,000 Mar 1 S Sep 1 25,000 S 55,000 $ 14,143 S 85,000 140,000 $ 36,000 S 55,000 85,000 140,000 92,000 S 55,000 85,000 140,000 $ 39,143 S 21,857 61,000 S 36,143 S 55,857 92,000S 55,000 S 65,041 Louis John Total Louis a. 21,857 25,000 $ 36,143 S 55,857 Mar 1 Sep 1 Total 55,000 S 65,041 20,041 S 120,041 S Louis Mar 1 S C. 19,959 19,959 Total