Suppose that at the beginning of 2020 Jamaal's basis in his S corporation stock is $1,000 and he has a $10,000 debt basis associated with a $10,000 loan he made to the S corporation. In 2020, Jamaal's share of S corporation income is $4,000, and he received a $7,000 distribution from the S corporation. What is Jamaal's stock and debt basis after these transactions? Multiple Choice $0 stock basis: $8,000 debt basis $0 stock basis; $10,000 debt basis $5,000 stock basis; $10,000 debt basis $5,000 stock basis; $3,000 debt basis None of the choices are correct