Julio and milania are owners of falcons corporation, an s corporation. they each own 50 percent of falcons corporation. in year 1, julio and milania each received distributions of $15,000 from falcons corporation. falcons corporation (an s corporation) income statement december 31, year 1 and year 2 year 1 year 2 sales revenue $ 300,000 $ 430,000 cost of goods sold (40,000 ) (60,000 ) salary to owners julio and milania (40,000 ) (80,000 ) employee wages (25,000 ) (50,000 ) depreciation expense (20,000 ) (40,000 ) section 179 expense (30,000 ) (50,000 ) interest income (related to business) 12,000 22,500 municipal bond income 1,500 4,000 government fines 0 (2,000 ) overall net income $ 158,500 $ 174,500 distributions $ 30,000 $ 50,000 what amount of ordinary income and separately stated items are allocated to them for year 1 based on the information above?