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Un January 1, Year 1. Ginger, an individual, paid $27,000 for 7 percent of the stock in Root Corp. an corporation. In November Year 1, he loaned $9,000 to Root Corp. in return for a promissory note. Root Corp, generated a $720,000 operating loss in Year 1. Root Corp generated $420,000 ordinary business income in Year 2 Required: a. How much of Ginger's share of this income is included in his Year 2 taxable income? b. Compute Ginger's basis in his Root Corp. stock and his Root Corp. note at the end of Year 2 c. How would your answers to parts a and b change if Root Corp's ordinary business income was only $232,000? Complete this question by entering your answers in the tabs below. w Reg A and B Reqc a. How much of Ginger's share of this income is included in his Year 2 taxable income? b. Compute Ginger's basis in his Root Corp, stock and his Root Corp. note at the end of Year 2. Amount $ 38.400 Taxable income Adjusted basis Root Stock Root Note $29.400 $ 9,000 requ a. How much of Ginger's share of this income is included in his Year 2 taxable income? b. Compute Ginger's basis in his Root Corp. stock and his Root Corp, note at the end of Year 2 c. How would your answers to parts a and b change if Root Corp's ordinary business income was only $232,000? Complete this question by entering your answers in the tabs below. Reg A and B Reqc How would your answers to parts a and b change if Root Corp.'s ordinary business income was only $232,000? Amount $ 16,240 Taxable income Adjusted basis Root Stock Root Note $ $ 0 7.240