Lan Corp. an accrual-basis calendar year repair-service corporation, began business on Monday, January 3, Year 4. Lans valid S corporation election took effect retroactively on January 3, Year 4.

For items 1 through 4, determine the amount, if any, using the fact pattern for each item.

Assume the following facts:

Assume the following facts:

Pike purchased 40 Lan shares on January 31, Yar 4, for $4000. Lan made no distributions to shareholders, and Pikes Year 4 Schedule K-1 from Lan reported:

What was Pikes basis in his Lan stock at December 31, Year 4?

Gross receipts Interest income on investments Charitable contributions Supplies $7,260 50 1,000 1,120 Ordinary business loss Municipal bond interest income $(1,000) $ 150 Pike's basis