what is the answer to this?

1. On January 1, 2021 Green Corporation (a calendar year taxpayer) has ACCCUMULATED E\&P of $80,000 and generates no additional E\&P during the 2021 year. On December 25 , 2021 the corporation distributes $120,000 to its sole shareholder, Wayne (his basis in stock is $50,000) Determine the effect of the distribution on Wayne's taxable income - Is the entire $120,000 distribution a "dividend?" If not, how much of the $120,000 is a dividend? What happens to any of the $120,000 that is NOT a dividend? How will it be treated? Retum of Capital? If so, how much? Capital Gain? If so, how much? What is the impact of this $120,000 distribution on Wayne's basis in Green Corp stock which, as noted, was $50,000