Sienna Corporation is a calendar year taxpayer. Joe owns one-third (100 shares) of Sienna stock. His basis in the stock is $26,000. Sara owns two-thirds (200 shares) of Sienna stock. Her basis in the stock is $50,000. On June 10 o the current year, Sienna distributes $30,000 to Joe and $50,000 to Sara. Read the requirements. Require and acc appropr Requirements Determine the tax consequences of the cash distributions to Joe and Sara in each of the following independent situations: 0,000 Distrib a. Current E&P of $80,000; accumulated E&P of $110,000. b. Current E&P of $26,000; accumulated E&P of $15,000. Divider Remain Return Print Done Capital Remain... Sienna Corporation is a calendar year taxpayer. Joe owns one-third (100 shares) of Sienna stock. His basis in the stock is $26,000. Sara owns two-thirds (200 shares) of Sienna stock. Her basis in the stock is $50,000. On June 10 c the current year, Sienna distributes $30,000 to Joe and $50,000 to Sara. Read the requirements. Requirement a. Determine the tax consequences of the cash distributions to Joe and Sara if current E&P is $80,000 and accumulated E&P is $110,000. (Complete all input fields. For zero amounts, make sure to enter "0" in the appropriate input field. Use parentheses or a minus sign for losses.) Distribution Dividend income Remaining distribution Return of capital Capital gain (loss) Remaining stock basis Joe Sara