A calendar$-$year S Corp has the following information for the current taxable year:

Sales $350,000$

Cost of Goods Sold $120,000$

Long$-$term Capital Gain $12,000$

Distribution to Owners $50,000$

Salary to Z $35,000$

Charitable Contribution $8,000$

Operating Expenses $40,000$

Interest Income$*15,000$

Z is a $40\%$ owner with a $$100,000$ basis in her stock at the beginning of the tax year. No corporate debt is owed to her. Z materially participates in the operations of S Corp. Z also has a $$55,000$ salary from another job.

$*$The interest income is NOT business related.

Use this information to answer the following $4$ questions.

A$.$ Calculate the S corp$$s ordinary income or loss for the year.

B$.$ Calculate the S corp$$s separately stated items.

C$.$ Calculate Z$$s adjusted gross income.

D$.$ Calculate Z$$s basis in her S stock at the end of the year.