Consequences of a Single Cash Distribution.Clover Corporation is a calendar year taxpayer. Connie owns all of its stock. Her basis for the stock is $10,000. On April 1 of the current (non-leap) year Clover distributes $52,000 to Connie. Determine the tax consequences of the cash distribution in each of the following independent situations:

1. Current E&P of $15,000; accumulated E&P of $25,000.
2. Current E&P of $30,000; accumulated E&P of ($20,000).
3. Current E&P of ($73,000); accumulated E&P of $50,000.
4. Current E&P of ($20,000); accumulated E&P of ($15,000).