Herold had been a calendar year S corporation since 1990. On October 10th, 2023, Mrs. Hughes sold 18 shares of Herold stock to a foreign partnership, thereby terminating heralds as election. Herolds taxable income for the entire 2023 calendar year was $592,030. Describe the federal tax return that herald must fire for 2023 determine how much income must be reported on each, and complete any corporate income tax that hero must pay.