Randolph is a 30 percent partner in the RD Partnership. On January 1, RD distributes $19,000 cash and inventory with a fair value of $34,400 (inside basis of $17,200) to Randolph in complete liquidation of his interest. RD has no liabilities at the date of the distribution. Randolph's basis in his RD Partnership interest is $38,800. What is the amount and character of Randolph's gain or loss on the distribution

For the year, uptowne furniture had sales of $818,790, costs of $748,330, and interest paid of $24,450. the depreciation expense was $56,100 and the tax rate was 34 percent. at the beginning of the year, the firm had retained earnings of $172,270 and common stock of $260,000. at the end of the year, retained earnings was $158,713 and common stock was $280,000. any tax losses can be used. what is the amount of the dividends paid for the year? a. $6,466 b. $7,566 c. $5,266 d. $6,898 e. $7,066