Nevada Corporation distributes property to its sole shareholder, Shirley. The property has a fair market value of $390,000, an adjusted basis of $250,000, and is subject to a liability of $270,000. Current E&P is $505,000. With respect to the distribution, provide each of the following amounts.

1. Amount of the distribution: $___________
2. Shirley's dividend income: $___________
3. Shirley's basis in property received: $____________
4. Nevada Corporation's recognized gain/loss amount: $____________
5. Nevada Corporation's E&P after the distribution: $____________