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1. Tax shedules
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2. Complete the following schedule for each case. Unless otherwise indicated assume
that the shareholders have ample basis in the stock Accumulated E& P Current E &
P Cash Distributions Dividend Income Return of Beginning of Year (all on Last
day of year) 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. Same as (d), except that the distribution of $130,000 is made on June 30 and
the corporation uses the calendar year for tax purposes.