Explain what the distribution each year


Question: Summer Express Corporation had the following information over the years: Tax Info Year 1 Year 2 Year 3 Capital Contributed per year $100,000 $0 $50,000 Taxable Income $200,000 $100,000 <$20,000> Dividends Received Deduction $40,000 $60,000 $100,000 Tax Exempt Interest $10,000 $5,000 $3,000 Disallowed related party losses $10,000 $20,000 $30,000 Distributions $100,000 $300,000 $200,000 1.) Explain what the distribution each year will be treated as for the shareholder (including the tax rates) and what the earnings and profit will be each year (current and accumulated).

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Accounting Basics: Explain what the distribution each year
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