13 Required Information [The following information applies to the questions displayed below.] Ramon Incorporated his sole proprietorship by transferring Inventory, a building, and land to the corporation in return for 100 percent of the corporation's stock. The property transferred to the corporation had the following fair market values and adjusted tax bases: ances Inventory Building Land Total FMV $18,750 74,750 170,000 $263,500 Adjusted Tax Basis $ 10,000 37,500 83,000 $ 130,500 The fair market value of the corporation's stock received in the exchange equaled the fair market value of the assets transferred to the corporation by Ramon. (Leave no answer blank. Enter zero if applicable. Negative amount should be Indicated by a minus sign.) a. What amount of gain or loss does Ramon realize on the transfer of the property to his corporation? Gain or loss realized