Agustina, Bobby, and Claudia are equal owners in Lafter, an S corporation that was a C corporation several years ago. While Agustina and Bobby actively participate in running the company, Claudia has a separate day job and is a passive owner. Consider the following information for 2022:

• As of January 1, 2022, Agustina, Bobby, and Claudia each has a basis in Lafter stock of $15,000 and a debt basis of $0. On January 1, the stock basis is also the at-risk amount for each shareholder.
• Bobby and Claudia also are passive owners in Aggressive LLC, which allocated business income of $14,000 to each of them in 2022. Neither has any other source of passive income (besides Lafter, for Claudia).
• On March 31, 2022, Agustina lends $5,000 of her own money to Lafter.
• Anticipating the need for basis to deduct a loss, on April 4, 2022, Bobby takes out a $10,000 loan to make a $10,000 capital contribution to Lafter. Bobby uses his automobile ($12,000 fair market value) as the sole collateral for his loan (nonrecourse).
• Lafter has an accumulated adjustments account balance of $45,000 as of January 1, 2022.
• Lafter has C corporation earnings and profits of $15,000 as of January 1, 2022.
• During 2022, Lafter reports a business loss of $75,000, computed as follows:

Sales revenue	$ 90,000
Cost of goods sold	(85,000)
Salary to Agustina	(40,000)
Salary to Bobby	(40,000)
Business (loss)	$ (75,000)

• Lafter also reported $12,000 of tax-exempt interest income.
• During 2023, Lafter made several changes to its business approach and reported $18,000 of business income, computed as follows:

Sales revenue	$ 208,000
Cost of goods sold	(90,000)
Salary to Agustina	(45,000)
Salary to Bobby	(45,000)
Marketing expense	(10,000)
Business income	$ 18,000

• Lafter also reported a long-term capital gain of $24,000 in 2023.
• Lafter made a cash distribution on July 1, 2023, of $20,000 to each shareholder.

Note: For all requirements, do not round your intermediate calculations. Round your final answer to the nearest whole dollar amount. Leave no answers blank. Enter zero if applicable.

Required:

a-1. What amount of Lafter's 2022 business loss of $75,000 are Agustina, Bobby, and Claudia allowed to deduct on their individual tax returns?

a-2. What are each owner's stock basis and debt basis (if applicable) and each owner's at-risk amount with respect to the investment in Lafter at the end of 2022?

b. What amount of gain/income does each shareholder recognize from the cash distribution on July 1, 2023?