Problem 8-42 (LO 8-4) Dominique and Terrell are joint owners of a bookstore. The business operates as an S corporation. Dominique owns 65%, and Terrell owns 35%. The business has the following results in the current year: Revenue Business expenses Charitable contributions Short-term capital losses Long-term capital gains Required: $ 1,500,000 750,000 50,000 4,500 6,000 How do Dominique and Terrell report these items for tax purposes? Revenues Expenses Ordinary income Charitable contributions S/T capital losses UT capital gains Total Dominique (65%) Terrell (35%) Reporting Schedule