On January 1, Year 1, Ginger, an individual, paid $30,000 for 7 percent of the stock in Root Corp., an S corporation. In November Year 1 he loaned $11,000 to Root Corp. in return for a promissory note. Root Corp. generated a $750,000 operating loss in Year 1 . Root Corp. generated $423,000 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 $235,000 ? 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. How would your answers to parts a and b change if Root Corp.'s ordinary business income was only $235,000