Towne Corporation (an S corporation) is owned by Jane and Rebecca who are each 50% shareholders. At the beginning of the year, Jane's basis in her Towne stock was $40,000. Towne reported the following tax information for 2018. Description Sales revenue Cost of goods sold Long-term capital gain Dividend income Tax exempt interest Salary to owners Employee wages Description expenses Miscellaneous expenses Overall net income Amount $ 730,000 (200,000) 8,000 42 5,000 3,000 42 (120,000)44 (50,000) (12,000) (10,000)-- $ 354,000 22 a. What amount of ordinary business income is allocated to Jane?- b. What is the amount and character of separately stated items allocated to Jane?- c. What is Jane's basis in her Towne Corp. stock at the end of the year?H