IV. C-CORPORATION DIVIDEND DISTRIBUTIONS Complete the following schedule. For each case, assume that there is one shareholder whose basis in the corporate stock is $25,000. Also assume that current losses accrue ratably throughout the year, and that the corporation uses a calendar year for tax purposes Accumulated E&PCurrent E&P ($40,000) $%70,000 Date of Distribution 8/31 Cash Distribution $40,000 30,000 35,000 70,000 75,000 Dividend Income Beginning of vear 25,000 50,000 (60,000) 00,000 (80,000) 60,000 3/31 12/31 6/30 11/30 (60,000) C. 30,000