In not less than 1,000 words, discuss earnings and profits. Your discussion should include major differences between computing current earnings and profits and current taxable income as well as why earnings and profits should be calculated before a corporation decides to make a distribution to its shareholders.

Earning and profit (E&P) Plays an important role in the organization purpose for the exitense. It is also one of the most important metric for the investors to evaluate the companies . Calculating E & P is necessary and rules have been made by the authorities for the Companies which come under it's purview that what procedure should be followed in calculating it. It is important for the businesses organized and taxed as regular corporations to maintain a current, accurate...