In a discussion with a client about earnings and profits, the client states that a corporation's "E&P" account is the same as the company's "retained earnings" account on its financial balance sheet. Is the client's assertion true or false? True False Question 2 (1 point) Listen Saved Dynax Corporation made a $50,000 distribution to a shareholder in 2022. This will only be treated as a dividend for tax purposes if the distribution is paid out of current E&P only. True False