How accumulated e and p is allocated to ethans distribution, Accounting Basics

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How accumulated e and p is allocated to ethans distribution

Problem

Joe and Ethan each own 50% of JH Corporation, a calendar year taxpayer. Distributions from JH are: $750,000 to Joe on April 1 and $250,000 to Ethan on May 1. JH's current E & P is $300,000 and its accumulated E & P is $600,000. How much of the accumulated E & P is allocated to Ethan's distribution?

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Accounting Basics: How accumulated e and p is allocated to ethans distribution

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