Complete the following schedule for each case. Unless otherwise indicated, assume that the shareholders have ample basis in the stock investment.

                                                                                              Cash

Accumulated                                                                     distributions

E & P beginning                                                                 (all on last                            dividend              return of

Of year                                 current E & P                      day of year)                        income                 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.