38. The Jane Corporation, an S corporation, makes several property distributions to its two equal shareholders, A and B, during the year. The distributions are as follows:

A B Cash $5,000 $5,000 Land (Basis=$5,000) $10,000(FMV)

Equipment (Basis=$15,000) $10,000(FMV)

At the beginning of the year, the corporation’s accumulated adjustments account is $35,000; A’s basis in his shares is $24,000; and B’s basis is $32,000. The corporation reports net income of $6,000 for the year, excluding any effect of the distributions. Determine the basis in A and B’s shares and the balance in the corporation’s AAA at the end of the year.