corporation). AL a I current 47. LO.7 Ling is the sole shareholder of Crimson Corporation (a Cc E&P of $65,000, it distributes a cash dividend of $85,000. If Ling's basis in her stock time when Crimson has a deficit in accumulated E & P of $90,000 and c is $15,000, what are the tax consequences of the distribution to: a. Ling? b. Crimson Corporation? in Dal