Problem 12-39 (LO. 7, 8, 9) At the beginning of the tax year, Lizzie holds a $10,000 stock basis as the sole shareholder of Spike, Inc., an S corporation. During the year, Spike reports the following: Net taxable income from sales Net short-term capital loss Cash distribution to Lizzie, 12/31 $25,000 (18,000) 40,000 If an amount is zero, enter "O". a. Determine Lizzie's stock basis at the end of the year. $ 0 35,000 is tax-free and $ 5,000 is b. Of Lizzie's $40,000 cash distribution, $ a capital gain C. $ 20,000 X of the short-term capital loss is suspended this year