For question 1 - yes, that would be an increase in CO revenue because it's less loss.
For question 2 - no, you should not enter anything. The difference is because the CO K-1 is the same form whether the company is an S-Corp or a Partnership (and brand new for 2022). So, it is reporting the K-1 according to how it links with the federal form, but the amount does not apply to you because you own shares of an S-Corp. Leave the "adjustment" for this line blank.
@sconmifi
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