Rayburn owns all the shares of Newcastle Corporation that operates as an S corporation. Rayburn's basis in the stock is $15,000. During the year he receives a cash distribution of $22,000 from Newcastle. What must Rayburn and Newcastle report as income from the cash distribution? 
Definitions:
Waveform Tracing
The visual representation of variations in voltage over time, often used in medical monitoring of physiological functions.
12-Lead ECG
A diagnostic tool that records the electrical activity of the heart from 12 different angles, providing comprehensive cardiac information.
Nurse
A healthcare professional specially trained to care for the sick and assist in their recovery and health maintenance.
Lead Placements
The specific locations on the body where electrodes are placed to perform electrocardiography or other monitoring.
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