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First year S Corporation. $ 1 0 , 0 0 0 is deposited for common stock, $ 2 0 , 0 0 0 shareholder loan,

First year S Corporation. $

10, 000

is deposited for common stock, $

20, 000

shareholder loan, $

40, 000

bank

loan

(

shareholder guaranteed

) .

Sales $

100, 000,

COGS Expense $

35, 000,

Wages $

15, 000 .

Equipment

purchased $

30, 000 .

Assume

100 %

bonus depreciation in year of purchase. What is the ending shareholder

loan basis?

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