Orleans Inc. distributed $500,000 in a year in which its current E&P was $400,000 and it accumulated E&P was a negative $750,000.
1. a. Orleans Inc. distributed $500,000 in a year in which its current E&P was $400,000 and it accumulated E&P was a negative $750,000. How much of this distribution was a dividend to Orleans's shareholders? Explain your rational, citing appropriate authorities. b. Mr. Smith, CEO of Orleans Inc, has asked for clarificatio