Waters Corporation is an s corporation with two equal shareholders, Mia Jones and David Kerns. This year, Waters recorded the following items of income and expense: Sales revenue Interest income Long-term capital gain Cost of goods sold Salary and wages Other operating expenses $ 500,000 6,000 10,000 (250,000) (75,000) (55,000) Waters distributed $25,000 to each of its shareholders during the year. If Mia's adjusted tax basis in her partnership interest was $50,000 at the beginning of the year, compute her adjusted tax basis in her partnership interest at the end of the year. Multiple Choice $93,000 $118,000 $50,000 $85,000