Required information Problem 07-40 (LO 07-2) (Algo) [The following information applies to the questions displayed below.] Lone Star Company is a calendar-year corporation, and this year Lone Star reported $130,000 in current E\&P that accrued evenly throughout the year. At the beginning of the year, Lone Star's accumulated E\&P was $15,600. Lone Star declared $39,000 in cash distributions on each of the following dates: April 1, July 1, October 1, and December 31. Note: Leave no answer blank. Enter zero if applicable. Negative amount should be indicated by a minus sign. Problem 07-40 Part a (Algo) a. How much of the $156,000 in total distributions will be treated as dividends
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