LO.1, 3 Complete the following schedule. For each case, assume the shareholder has ample basis in the stock investment.

Accumulated E & P Beginning of Year Current E & P Cash Distributions

(All on Last Day of Year)

Dividend Income Return of Capital

a. ($150,000) $ 70,000 $130,000

$ $

b. 200,000 (60,000) 210,000

c. 130,000 50,000 150,000

d. 120,000 (40,000) 130,000

e. Same as (d), except the distribution of $130,000 is made on June 30 and the corporation uses the calendar year for tax purposes.