II. {12 Points] Rodney owns 100% of the stock of Three points Corp. Three Points has $100,000 of ESIP. Dishibutious were made as follows: 1. Land with FMW of $5,000 and a cost basis of $1,000. 2. Same as 1 above except the land was subject to a mortgage of $3,000. 3. Equipment with a W of $3,000 and a basis of $5,000. For each distribution calculate the following: A. The dollar effect of the distribution on the shareholder's taxable income. 1. 2. 3. B. The shareholder's basis for the property received. 1. 2. 3. C. The dollar effect of the distribution on the Three Point Corp.'s taxable income 1. I1