For each of the following fact patterns, determine: $($present your answer as narrative$).$

The income to the shareholders

The basis of the stock

The effect on the distributing corporation.

$1.$ On January $15,2023,$ B Co declared a $5\%$ common stock dividend, payable February $15,2023,$ on all outstanding common stock. This is the only class of stock outstanding. Cash will be distributed instead of fractional shares. During $2023,$ this was the only stock divided and $$100,000$ of cash was distributed.

$2.$C corporation declared a dividend on March $1,2023,$ payable on April $1,2023.$ It is payable in cash unless the shareholder elects, before March $15,2023,$ to take payment in common stock.

$3.$D Co$.$ Declared a dividend on April $15,2023,$ payable on March $15,2023,$ on its preferred stock. One share of common stock will be paid on each $25$ shares of preferred stock held. Fractional shares will be issued.