Read the requirements. sign for a decrease in basis.$)$

In the current year, Miguel and Abby form Lunar Company by each contributing S3S,000 to the company in exchange for a 50% ownership interest. In addition, the company borrows S5S,000 from First Bank. In the current year, the company incurs a S82,000 loss from operations. Read the requirements. Requirement a. How much of the loss can each shareholder deduct in the current year f Lunar is an S Corporation, and what is each shareholders basis in his or her stock at the end of the year? (Complete all input fields. Enter a 0 for zero amounts. use parentheses or a minus sign for a decrease in basis.) Basis in stock before loss Share of S corporation loss allowed Basis in stock at year end Miguel Abby