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Please someone help me with this! On January 1 of the current year, Rhondell Corporation holds accumulated E & P of $190,000. Current E &
Please someone help me with this!
On January 1 of the current year, Rhondell Corporation holds accumulated E & P of $190,000. Current E & P for the year is $570,000, earned evenly throughout the year. Elizabeth and Jonathan are the sole equal shareholders of Rhondell from January l April 30. On May 1, Elizabeth sells all of her stock to Marshall. Rhondell makes two distributions to shareholders during the year, as indicated below. Determine the allocation of the distributions by completing the table below. Assume the shareholders have sufficient basis in their stock for any amount that is treated as return of capital. If an amount is zero, enter "0". If required, round any division to two decimal places and use in subsequent computations. Round final answers to the nearest dollar
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