Problem 12-30 (LO. 6, 8) Cougar, Inc., is a calendar year S corporation. Cougar's Form 1120S shows nonseparately stated ordinary income of $80,000 for the year. Johnny owns 40% of the Cougar stock throughout the year. The following information is obtained from the corporate records. Tax-exempt interest income $3,000 Salary paid to Johnny (52,000) Charitable contributions Dividends received from a non-U.S. corporation Short-term capital loss Depreciation recapture income Refund of prior state income taxes Cost of goods sold Long-term capital loss (6,000) 5,000 (6,000) 11,000 5,000 (72,000) (7,000) (18,000) 14,000 (11,000) 32,000 9,000 31,000 20,000 Administrative expenses Long-term capital gain Selling expenses Johnny's beginning stock basis Johnny's additional stock purchases Beginning AAA Johnny's loan to corporation a. Compute Cougar's book income or loss. The entity's book income is $1 88,000. Feedback Check My Work b. Compute Johnny's ending stock basis. 76,200 Feedback Check My Work c. Calculate Cougar's ending AAA balance. $ 27,000 X