Complete the following schedule for each case. Assume the shareholders have 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.