Transaction Realized gain of $50,000 on involuntary conversion of building ($30,000 of gain is recognized) Mining exploration costs incurred on June...

In each of the following independent situations, indicate the effect on taxable income and E&P, stating the amount of any increase (or decrease) that occurs as a result of the transaction. Assume E&P has already been increased by taxable income. Also, provide brief 1-3 sentence explanation/justification of your answers for each row.