Identify the effect $("$Increases$,"$ "Decreases," or $"$No effect"$)$ of each of the following on a partner's basis for a partnership interest and a shareholder's $($both C corporation and S corporation$)$ basis for stock:

Effect on Basis

Item

Partner Shareholder in C Corporation Shareholder in S Corporation

Profits

Losses

Liability increase

Liability decrease

Contribution of assets

Distribution of assets $($nonliquidating$,$ assume classified as a dividend$)$