Suppose that at the beginning of 2019 jamaal's basis in his s corporation stock was $27,000 and jamaal has directly loaned the s corporation $10,000. during 2019, the s corporation reported an $80,000 ordinary business loss and no separately stated items. after any loss deductions this year, what is jamaal's stock and debt basis at the end of the year if jamaal is a 50 percent shareholder of the s corporation

Down under products, ltd., of australia has budgeted sales of its popular boomerang for the next four months as follows: unit salesapril 74,000may 85,000june 114,000july 92,000the company is now in the process of preparing a production budget for the second quarter. past experience has shown that end-of-month inventory levels must equal 10% of the following month’s unit sales. the inventory at the end of march was 7,400 units.required: prepare a production budget by month and in total, for the second quarter.