At the beginning of the current (non-leap) year, Jarvis owns all of Tackle and Bait Corporation's outstanding stock. His basis in the stock is $70,000. On July 1, he sells all his stock to Adam for $140,000. During the year, Tackle and Bait, a calendar year taxpayer, makes two cash distributions: $58,000 on March 1 to Jarvis and $95,000 on September 1 to Adam.

a.	Current E&P of $38,000; accumulated E&P of $35,000.
b.	Current E&P of $95,000; accumulated E&P (deficit) of $(48,000).
c.	Current E&P (deficit) of $(30,000); accumulated E&P of $128,000.

Fill in all tables. TABLE BELOW IS FROM A PREVIOUS PRBLEM TO SHOW THE SET UP. Numbers and names from previous problem. Names should be (1) Jarvis and (2) Adam. Use a 365-day year for computations.

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 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