Bullwinkle Corporation, an S corporation, reports the following results for the current year:

Ordinary income = $40,000

Long-term capital gain= $18,000

Section 1231 gain = $8,000

Short-term capital loss= $14,000

Bullwinkle's AAA and accumulated E&P balances at the beginning of the year are $40,000 and $30,000, respectively. Bullwinkle made a $70,000 cash distribution to its sole shareholder, Maryann, on June 1 and a second $70,000 cash distribution on December 1. Maryann's basis in her Bullwinkle Corporation stock on January 1 was $60,000.

Calculate the following items. and enter the numerical answer for each item in the text box. Show support for your work on your scratch paper in order to earn credit.

Bullwinkle's AAA balance at the end of the year is .

Bullwinkle's AEP balance at the end of the year is .

Maryann's basis in her Bullwinkle Corporation stock at the end of the year is .

What are the tax consequences to Maryann of the $140,000 distribution from Bullwinkle? Put your answer to this question on your scratch paper. Show support for your work on your scratch paper in order to earn credit.