Thelma has an adjusted basis for her 35% ownership interest of $140,000. During the year, the entity earns a profit of $100,000 and distributed $30,000 to its owners. Entity liabilities at the end of the year exceed those at the beginning of the year by $60,000.

Determine Thelmas adjusted basis for her ownership interest if the entity is :

a. Partnership

b. C Corporation

c. S Corporation