Omega Corporation is formed in 2006. Its current E&P and distributions for each year through 2010 are as follows: 
Is the distribution made from current or accumulated E&P? At the beginning of 2011, what is accumulated E&P?
Definitions:
Absorption Costing
An accounting method that includes all manufacturing costs, such as direct materials, direct labor, and both variable and fixed manufacturing overhead, in the cost of a product.
Unit Product Cost
The total cost associated with producing one unit of product, encompassing both fixed and variable costs.
Operations
Refers to the day-to-day activities involved in the running of a business for the purpose of producing value for the stakeholders.
Absorption Costing
An evaluation technique that assimilates all production costs, covering direct materials, direct labor, and variable and fixed overheads, into the price of a product.
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