Requirement Determine the tax consequences of the cash distribution in each of the following independent situations: a. Current E&P of $12,000; accumulated E&P of $15,000. b. Current E&P of $32,000; accumulated E&P deficit of $(24.000). c. Current E&P deficit of $(76,000); accumulated E&P of $50,000. d. Current E&P deficit of $(25,000); accumulated E&P deficit of $(15,000). (Do not round intermediary calculations. Only round the amount you input in the cell to the nearest dollar. Complete all answer boxes. For zero amounts, make sure to enter "0" in the appropriate cell. Use parentheses or a minus sign for losses and E&P deficits.) Print Done Two Hearts Corporation is a calendar year taxpayer. Erin owns all of its stock. Her basis for the stock is $5,000. On April 1 of the current (non-leap) year Two Hearts distributes $40,000 to Erin. Read the requirement a. b. d. Distribution Dividend income Remaining distribution Return of Capital Capital gain (loss) Carryforward Accumulated E&P