Problem $8-42($LO $8-4)$

Dominique and Terrell are joint owners of a bookstore. The business operates as an S corporation. Dominique owns $65\%,$ and Terrell owns $35\%.$ The business has the following results in the current year:

Revenue$ $2,800,000$Business expenses$1,960,000$Charitable contributions$57,000$Short$-$term capital losses$5,460$Long$-$term capital gains$7,800$

Required:

How do Dominique and Terrell report these items for tax purposes?