The Viking Corporation, a calendar year corporation, formed and immediately elected to become an S Corporation as of January 2, 2014. Brandon has owned 40% of the stock since its inception with an investment of $27,000. In 2014 and 2015, Viking had ordinary losses of $45,000 and $30,000 respectively. During 2016, Viking reported taxable income of $60,000, all ordinary income. During 2016, Viking made cash distributions of $40,000.

A. How does Brandon report his share of the 2014 and 2015 losses?

B. How does Brandon report his share of the 2016 ordinary income and cash distribution?

C. What is his basis in his shares of Viking stock on December 31?