Questions 17-20 refer to the following facts: On 1/1/XS X Co. had accumulated E & P totaling $30,000. During 20X5, X Co. made the following distributions to its shareholders: A $60,000 cash on 3/1XS B - Property (FMV $30,000, Basis $10,000) on 10/15 A's basis in his X Co. stock is $12,000. B's basis in his X Co. stock is $2,000 Assume X Co. had current E & P from operations in 20XS totaling $10,000. X Co.'s gain or loss on the distribution is O 1-$20,000 O 2.0 O 3. None of these. O 4. $30,000 QUESTION 18 See Question 17 for facts. B should characterize the distribution as follows: 1 $10.000 dividend. $2,000 return of capital, $18,000 capital gain O 2 None of these. 3 $30,000 dividend O 4 $2.000 return of capital, $28,000 capital gain. QUESTION 19 See Question 17 for facts. A should characterize the distribution as follows: 1-None of these. 2.$60,000 dividend 3.$50,000 dividend, $10,000 return of capital 4 $45.000 dividend, $10,000 return of capital, $5,000 capital gain