Hidden Corporation has the following owners:
		Shares Owned	Basis at 1/1/2020
Lizzie	25 Shares	25,000
Josie	25 Shares	25,000
Hope	50 Shares	50,000
At December 31, 2019, Hidden had accumulated earnings and profits of	300,000
During 2020 it made the following cash distributions.
		Total Distribution
1-Mar-20	100,000
1-Jul-20	200,000
1-Oct-20	200,000
At December 31, 2020, the total current E&P for the year (before distributions) was	100,000
On August 1, 2020 Hope sold 25 shares to Landon for		100,000
a)	What are the tax consequences to Hope as a result of the July 1 distribution?

Use a flat corporate tax rate of 21% for all problems. For individuals assume a tax rate of 15% for all dividends and capital gains.
Assume there is no Alternative Minimum Tax for these problems.
Assume that all entities are US domestic corporations, taxed under Subchapter C of the IRC unless otherwise noted.