Andi is a 50% shareholder in Cheerful Corporation, an S corporation. The S corporation had an $80,000 ordinary loss last year and $10,000 of ordinary income this year. Before accounting for last year's losses, Andi's basis in his stock is $32,000 and Cheerful owed Andi $4,000 (an unsecured note having a basis of $4,000) at the end of last year. In addition, Cheerful had $100,000 of other liabilities owed to creditors other than Andi at the end of last year. What income and loss must Andi report on her current return as a result of owning the Cheerful stock (ignoring the at-risk and passive activity limitations)?