Green Corporation is a calendar-year taxpayer. All of the stock is owned by Evan. His basis for the stock is $35,000. On March 1 (of a non-leap year), Green Corporation distributes $120,000 to Evan. Determine the tax consequences of the cash distribution to Evan in each of the following independent situations:

Current E&P Accumulated E&P

a) $30,000 $100,000

b) 50,000 ( 50,000)

c) (73,000) 40,000

d) (20,000) ( 50,000)