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Use the following Information for questions 29-33. JF corporation has CE&P of $50,000 and AE&P of $14,000. JF distributes $40,000 to Joe (the sole shareholder)

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Use the following Information for questions 29-33. JF corporation has CE&P of $50,000 and AE&P of $14,000. JF distributes $40,000 to Joe (the sole shareholder) on May 1st Prior to the distribution, Joe's stock basis was $35,000. On June 5th, Joc sells all of his stock to Fred for $50,000. On October 23rd, JF distributes 560,000 to Fred. (5/1) Joe's dividend (ordinary) income QUESTION 30 (6/5) Joe's capital gain - QUESTION 31 (10/23) Fred's dividend (ordinary income QUESTION 32 Fred's ending stock basis = QUESTION 33 JF corporation's AE&P next year = Use the following Information for questions 29-33. JF corporation has CE&P of $50,000 and AE&P of $14,000. JF distributes $40,000 to Joe (the sole shareholder) on May 1st Prior to the distribution, Joe's stock basis was $35,000. On June 5th, Joc sells all of his stock to Fred for $50,000. On October 23rd, JF distributes 560,000 to Fred. (5/1) Joe's dividend (ordinary) income QUESTION 30 (6/5) Joe's capital gain - QUESTION 31 (10/23) Fred's dividend (ordinary income QUESTION 32 Fred's ending stock basis = QUESTION 33 JF corporation's AE&P next year =

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