Required information [The following information applies to the questions displayed below.] Julio and Milania are owners of Falcons Corporation, an S corporation. Each owns 50 percent of Falcons Corporation. In year 1, Julio and Milania each received distributions of $15,000 from Falcons Corporation. c. Complete Julio's 1120-S, Schedule K-1, for year 1. Note: Use 2022 tax rules regardless of year on tax form. Input all values as positive numbers. Falcons Corporation EIN: 58-1111111 Shareholder's identifying number: 111-11-1111 Final K-1 Amended K-1 OMB No. 1545-0123