Tiny and Tim each own half of the 100 outstanding shares of Flower Corporation. This year, Flower reported taxable income of $6,000 and was subject to 21% tax rate. In addition. Flower received $20,000 of life insurance proceeds due to the death of an employee (Flower paid $500 in life insurance premiums this year). Flower had $5,000 of accumulated E&P at the beginning of the year.

a) What is Flower's current E&P?

b) Flower distributed $6,000 on February 15 and $30,000 on August 1. What total amount of dividends will Tiny and Time report?