Everest Corporation reported current earnings and profits for year 1 of $500,000. During the year, the company made a distribution of land to its sole shareholder, Todd Miller. The land's fair market value was $175,000 and its tax and E&P basis to Everest was $100,000. Todd assumed a mortgage attached to the land of $30,000.

What amount of dividend income does Todd report as a result of the distribution and what is Todd's income tax basis in the land received from Everest?