Birch Corporation, a calendar-year corporation, was formed three years ago by its sole shareholder, James, who has operated it as an 5 corporation since its inception. Last year, James made a direct loan to Birch Corporation in the amount of \$5,950. Birch Corporation has paid the interest on the loan but has not yet paid any principal. (Assume the loan qualifies as debt for tax purposes.) For the year, Birch experienced a. $26.100 business loss: What amount of the loss clears the tax-basis limitation, and what is James's basis in his Birch Corporation stock and Birch Corporation debt in each of the following alternative scenarios? Note: Leove no answer blank. Enter zero if applicable. Problem 17-57 Part c (Algo) 6. At the beginning of the year, James's basis in his Birch Corporation stock was $0 and his basis in his Birch Corporation debt was 55,950 Maple Corporation, a calendar-year corporation, was formed three years ago by its sole shareholder, Jian, who immediately elected S corporation status. On December 31 of the current year, Maple distributed $31,500 cash to Jian. What are the amount and character of gain Jin must recognize on the distribution in each of the following alternative scenarios? Note: Leave no answer blank. Enter zero if applicable. If the answer is "O", select "None". Problem 17-66 Part a (Algo) o. At the time of the distribution, Jian's basis in his Maple Corporation stock was $36,800. Maple Corporation, a calendar-year corporation, was formed three years ago by its sole shareholder, Jlan, who immediately elected S corporation status. On December 31 of the current year. Maple distributed $31,500 cash to Jian. What are the amount and character of gain Jian must recognize on the distribution in each of the following altemative scenarios? Note: Leave no answer blank. Enter zero if applicable. If the answer is " 0, select "None". Problem 17-66 Part b (Algo) b. At the time of the distribution, Jan's basis in his Mapie Corporation stock was $8750. Maple Corporation, a calendar-year corporation, was formed three years ago by its sole shareholder, Jlan, who immediately elected S corporation status. On December 31 of the current year. Maple distributed $31,500 cash to Jian. What are the amount and character of gain Jian must recognize on the distribution in each of the following alternative scenarios? Note: Leave no answer blank. Enter zero if opplicoble. If the answer is " 0 ", select "None". Problem 17-66 Part c (Algo) c. Al the time of the distribution, Jian's basis in his Maple Corporation stock was \$0