Total dividend income received by the shareholders

Reference no: EM13186868

XYZ Corporation had $100,000 in earnings and profits prior to any distributions. XYZ Corporation distributed to its shareholders a total of $30,000 in cash plus property that had a fair market value of $80,000 and a basis of $60,000. How much was the total dividend income received by the shareholders as a result of the distributions made by XYZ Corporation?

Reference no: EM13186868

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