This is no formula for what your wages should be. Many factors enter into determining what is reasonable compensation. factors include what others in a similar activity would be taking, where you live and work, hours spent. your best bet for guidance is tax professional in your area familiar with s-corp operations and compensation issues.
there really is no way to make up for not taking salaries last year. assuming the return has not already been filed, some might suggest reclassifying some of the distributions as compensation and issuing 1099s. You would be filing them late. As employees you are supposed to get w-2s not 1099s for your compensation. In fact, doing this might increase your audit risk.
