15. LO.1, 3 Complete the following schedule for each case. Unless otherwise indicated, assume that the shareholders have ample basis in the stock investment. All taxpayers use a calendar tax year.

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

(All on Last Day of Year)

Dividend Income Return of Capital

a. ($200,000) $ 70,000 $130,000

b. 150,000 (120,000) 210,000

c. 90,000 70,000 150,000

d. 120,000 (60,000) 130,000

e. Sames as (d), except that the distribution of

$130,000 is made on June 30.