Question: Exercise 15-2 (Algorithmic) (LO. 4, 6) Greiner, Inc., a calendar year S corporation, holds no AEP. During the year, Chad, an individual Greiner shareholder, receives

Exercise 15-2 (Algorithmic) (LO. 4, 6) Greiner, Inc., a calendar year S corporation, holds no AEP. During the year, Chad, an individual Greiner shareholder, receives a cash distribution of $124,900 from the entity. Chad's basis in his stock is $99,920. Compute Chad's ordinary income and capital gain from the distribution. What is his stock basis after accounting for the payment? If an amount is zero, enter "0". a. Compute Chad's ordinary income and capital gain from the distribution. Chad recognizes ordinary income of $ and a capital gain of $ b. What is his stock basis after accounting for the payment? His basis in the stock is $ after the distribution

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