Even though a balance sheet is not required, keep in mind that the company should have no assets or liabilities on its final return. So it sound like you sold the assets and have some liabilities remaining that you will pay off as a personal loan instead of the business paying them as a business loan.
For the business, this would be the equivalent of a capital contribution made by you and would increase your basis by the amount of the loan and credit card that will now be paid by you instead of the business. It will not affect the tax return, only your basis in the company.
For your personal return, you will report the dissolution of the S Corporation on Schedule D similar to the way you report a stock sale. Assuming you owned the business for more than 1 year, you would have a long-term capital loss for the amount of basis you had remaining in the company. If, after accounting for all of the asset sales and other items, you had a negative basis, you would report that as a long-term capital gain.
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