XYZ 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 XYZ stock was $40,000. XYZ reported the following tax information for 2011. Description Amount sales revenue 730,000 cost of good sold (200,000) long -term capital gain 8000 Dividend 5000 Tax exempt interest 3000 salary to owners (120,000) Employee wages (50,000) Depreciation expense (12,000) Miscellaneous expenses (10000) overall net income $354000 Required: 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 XYZ Corp. stock at the end of the year