Please show work.

The following facts apply to questions 14 and 15. Mallard Corporation is a calendar year. Mallard' s E & P for each of the past 5 years is listed below. 2008 $200,000 2007 $195,000 2006 $340,000 2005 80,000 14. In 2005 $100,000 cash was distributed. No other distributions were made during the prior years. What is accumulated earnings and profits as of January 1, 2009? Accumulated E&P as of January 1, 2009 $ 15. Now assume that NO cash distributions have been made in any prior year. In 2008 land (basis of $350,000, fair market value of $400, 000) was distributed. Assune that E&P for year 2008 does NOT include the gain or loss realized on distribution of the land. What is accumulated earnings and profits as of January 1, 20097 Accunulated E&P as of January 1, 2009 $ 16. Falcon Corporation has $200,000 of current E & P (year 2010) and a deficit in accunulated E &P of $90,000. If Swan pays a $180,000 distribution to its sole shareholder on July 1, 2010, how much dividend income should the shareholder report? Dividend income The tollowing facts apply to questions 17 and 18. On January 1, 2009, Gull Corporation (a calendar year taxpayer) has accumulated E & P of $200,000. During year 2009, Gul1 incurs a net loss of $300, 000 from operations that accrues ratably. For year 2009, no adjustments are required for computing current E P. on June 30, 2009. nid-point of the year, Gull distributes $120,000 to Sharon, its sole shareholder, who has a basis in her stock of $75,000. 17. How nuch dividend income is recognized by Sharon? Dividend income to be recognized by Sharon