are the following facts about a one-shareholder s corporation, and you are asked to given ending stock basis. Ordinary income Payroll tax penalty SI00000 Stock purchases 2.140 Tax-exempt insurance proceeds Insurance premiums paid (nondeductible) Beginning stock basis a, $163,960 b, $181,960 c, S213,960 d, S216,100 During 2010, Lion Corporation incurs the following transactions Net income from operations Interest income from savings account Long-term capital gain from sale of securities Short-term capital loss from sale of securities Lion maintains a valid s election and does distraute ar propertyjuain wie Penny, As a result, Penny must recognize a. Ordinary income of S103,000 and long-term capital gain of mlSAB00 short term b. Ordinary income of S103.000, long-term capital gain ofslaa00 capital loss. c. Ordinary income of SI08,000. d. None of the above Carsi Claude Bergeron sold l,000 shares of Dirta, Inc., an S corporation located in Concord, Narth A $9,000, He had owned the stock for three years and had a stock basis of S10A00 inthe saares that Claude is single and that he is the original owner of these 124 stock shares calculats the tax treatment ofany gain or loss. a. No gain or loss. deduction. b, $50,000 LTCL: S48,000 ordinary LTcL c. $50,000 ordinary deduction; S8.000 d. $98,000 long-term capital loss. e. None of the above