On January $1,2022,$ Leo paid $$26,000$ for $6$ percent of the stock in BLS$,$ an S corporation. In November, he loaned $$10,000$ to BLS in return for a promissory note. BLS generated a $$710,000$ operating loss in $2022.$ BLS generated $$419,000$ ordinary business income in $2023.$Required:How much of Leos share of this income is included in his $2023$ taxable income?Compute Leos basis in his BLS stock and his BLS note at the end of $2023.$How would your answers to parts a and b change if BLSs ordinary business income was only $$231,000?$