"Jack; the sole shareholder of Rettig Corporation, sold his stock to Jill on July 1 of this year for S80,000. Jacks stock basis at the beginning of the year was S50,000. Rettig made a S20,000 cash distribution to Jack immediately before the sale, while Jill received a S40,000 cash distribution from Rettig on November 1. As of the beginning of the current year; Rettig had S12,000 in accumulated E & P, while current E & P (before distributions) was S15,000. What is the character of Jacks distribution (amount of dividend, return of capital, capital gain)? . What is the character of Jill's distribution (amount of dividend, return of capital, capital gain)? . What is Jack's recognized gain on the sale of his stock?"