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 AEP account balances at the beginning of the year are $40,000 and $30,000, respectively. Bullwinkle made a $140,000 cash distribution to its sole shareholder, Maryann, on December 1. Maryann's basis in her Bullwinkle Corporation stock on January 1 was $160,000. 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. Maryann's basis in her Bullwinkle Corporation stock at the end of the year is With respect to the S corporation's business activity for the year, Maryann's ownership interest in the S corporation will (answer: increase or decrease) her taxable income for the current year by With respect to the cash distribution, the amount that will be treated as dividend income is and the amount that is considered tax-free is