Required information [The following information applies to the questions displayed below.] Tiger Corporation reported taxable income of $500,000 from operations this year. During the year, the company made a distribution of land to its sole shareholder, Mike. The land's fair market value was $75,000, and its tax and E\&P basis to Tiger was $125,000. Mike assumed a mortgage attached to the land of $15,000. The company had accumulated E\&P of $750,000 at the beginning of the year. a. Compute Tiger's taxable income and federal income tax. Required information [The following information applies to the questions displayed below.] Tiger Corporation reported taxable income of $500,000 from operations this year, During the year, the company made a distribution of land to its sole shareholder, Mike. The land's fair market value was $75,000, and its tax and E\&P basis to Tiger was $125,000. Mike assumed a mortgage attached to the land of $15,000. The company had accumulated E\&P of $750,000 at the beginning of the year. b. Compute Tiger's current E\&P. Required information [The following information applies to the questions displayed below.] Tiger Corporation reported taxable income of $500,000 from operations this year. During the year, the company made a distribution of land to its sole shareholder, Mike. The land's fair market value wos $75,000, and its tax and E\&P basis to Tiger was $125,000. Mike assumed a mortgage attached to the land of $15,000. The company had accumulated E\&P of $750,000 at the beginning of the year. c. Compute Tiger's accumulated E\&P at the beginning of next year