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Champ received a $50,400 distribution from NeatCo, a U.S. C corporation. NeatCo's earnings and profits for the year totaled $30,240. How much dividend income does

Champ received a $50,400 distribution from NeatCo, a U.S. C corporation. NeatCo's earnings and profits for the year totaled $30,240. How much dividend income does Champ recognize? Champ received a $50,400 distribution from NeatCo, a U.S. C corporation. NeatCo's earnings and profits for the year totaled $30,240. How much dividend income does Champ recognize

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