At the beginning of the current (non-leap) year, Hans owns all of Lighthouse Supply Corporation's outstanding stock. His basis in the stock is $72,000. On July 1, he sells all his stock to Tom for $144,000. During the year, Lighthouse Supply, a calendar year taxpayer, makes two cash distributions: $58,000 on March 1 to Hans and $82,000 on September 1 to Tom.

Consider the following independent situations:

a.	Current E&P of $48,000; accumulated E&P of $35,000.
b.	Current E&P of $105,000; accumulated E&P (deficit) of $(46,000).
c.	Current E&P (deficit) of $(38,000); accumulated E&P of $105,000.

(Numbers from Previous Problem shown below just to show setup)

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.) Current E and P Return Situation IndividualDate E and P of capital 24,641 71,359 96,000 26,256 37,744 64,000 25,000 $ 39,359 S 20,641 60,000 S 37,744 S 54,256 92,000 S 64,000 S 28,041 92,041S $ 64,000 14,359 S 92,000 156,000 $ 35,000 S 64,000 92,000 Harris Mar 1 Sep 1 20,641 25,000 Total Mar 1 $ Sep 1 37,744S 54,256 92,000 S b. Harris 156,000S 0 S Total Mar 1 $ Sep 1 64,000 92,000 64,000 S 28,041 92,041 S Harris 63,959 156,000$ 0 S 63,959 Total 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.) Current E and P Return Situation IndividualDate E and P of capital 24,641 71,359 96,000 26,256 37,744 64,000 25,000 $ 39,359 S 20,641 60,000 S 37,744 S 54,256 92,000 S 64,000 S 28,041 92,041S $ 64,000 14,359 S 92,000 156,000 $ 35,000 S 64,000 92,000 Harris Mar 1 Sep 1 20,641 25,000 Total Mar 1 $ Sep 1 37,744S 54,256 92,000 S b. Harris 156,000S 0 S Total Mar 1 $ Sep 1 64,000 92,000 64,000 S 28,041 92,041 S Harris 63,959 156,000$ 0 S 63,959 Total