Blue, Incorporated, a calendar year S corporation, has no A E P and a zero AAA. During the year, Bill, an individual shareholder of the corporation, receives a cash distribution of $85,500 from Blue. Bill's basis in the stock before this transaction is $25,500. In this case: (show your calculations) What is the amount of income that Bill has to report for himself due to the receipt of this distribution? What type of income does Bill report from this receipt? (i.e. ordinary, qualified dividend, compensation, capital gain etc.) What is the amount of Bill's ending basis