In the current year, Warbler Corporation (E & P of $250,000) made the following property distributions to its shareholders (all corporations):

Adjusted Basis Fair Market Value
Pink Corporation stock-
(held for investment) $150,000 $120,000
Non-LIFO inventory 80,000 110,000

Warbler Corporation is not a member of a controlled group. As a result of the distribution:

a) the shareholders have dividend income of $200,000.
b) the shareholders have dividend income of $ 260,000.
c) Warbler has a recognized gain of $30,000 and a recognized loss of $ 30,000.
d) Warbler has no recognized gain or loss.
e) None of the above

a manufacturer of printed circuit boards uses exponential smoothing with trend to forecast monthly demand of its product. at the end of december, the company wishes to forecast sales for january. the estimate of trend through november has been 200 additional boards sold per month. average sales have been around 1000 units per month. the demand for december was 1100 units. the company uses α = 0.20 and β = 0.10. make a forecast including trend for the month of january.

d) social security number

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