Solve correctly please:

Lanco Corporation, an accrual-method corporation, reported taxable income of $1,930,000 this year. Included in the computation of taxable income were the following items:

MACRS depreciation of $325,000. Depreciation for earnings and profits purposes is $219,000.

A net capital loss carryover of $13,600 from last year. A net operating loss carryover of $31,400 from last year.

$83,550 capital gain from the distribution of land to the companys sole shareholder (see below). Not included in the computation of taxable income were the following items:

Tax-exempt income of $6,850. Life insurance proceeds of $279,000.

Excess current-year charitable contribution of $5,400 (to be carried over to next year).

Tax-deferred gain of $21,700 on a like-kind exchange. Nondeductible life insurance premium of $5,900.

Nondeductible interest expense of $3,900 on a loan used to buy tax-exempt bonds. Lanco's accumulated E&P at the beginning of the year was $2,950,000. During the year, Lanco made the following distributions to its sole shareholder, Luigi (Lug) Nutt: June 30: $80,500.

September 30: Parcel of land with a fair market value of $93,750. Lancos adjusted tax basis in the land was $10,200. Lug assumed an existing mortgage on the property of $16,200.

Required:

a. What is Lancos current E&P before the distributions?

b. What is Lancos accumulated E&P at the beginning of next year?