1. Jack and Jill are owners of LIDAHill, an corporation. They own 25 and 75 percent, respectively. UBAH Corporation (an S corporation) Income Statement December 31, Year 1 and Year 2 Year 1 Year 2 Sales revenue $175,000 $310,000 Cost of goods sold (60,000) (85,000) Salary to owners Jack and Jill (40,000) (50,000) Employee wages (15, 000) (20, 000) Depreciation expense (10,000) (15, 000) Miscellaneous expenses (7,500) (9,000) Interest income (related to 2,000 2,500 business) Qualified dividend income 500 _1,000 Overall net income $ 45,000 $134,500 a. Complete the form 11205 and 11205 K-1, for Year 2 for UPAHill Corporation and Jack's K-1 for Year 2 b. Assume Jack and Jill, 25 and 75 percent shareholders, respectively, in VRAHill Corporation, have tax bases in their shares at the beginning of year 1 of $24,000 and $56,000, respectively. Also assume no distributions were made. Given the income statement above, what are their tax bases in their shares at the end of year 2