V. C-CORPORATION DIVIDEND DISTRIBUTIONS: Complete the following schedule of C corporate dividend distribution taxation for the shareholder. Assume that current losses accrue ratably throughout the year, and that the corporation uses a calendar year for tax purposes. Accumulated E&P Current Cash Distribution Date of Ordinary Beginning of year E&P Distribution Dividend Income $40,000 $35,000 $90,000 8/31 (60,000) 40,000 15,000 3/31 50,000 (40,000) 35,000 12/31 100,000 (120,000) 50,000 6/30 (30,000) 60,000 75,000 11/30