2 questions. please box answers

[The following information applies to the questions displayed below.] Mao and Madhav are equal partners in the M&M Partnership (calendar year-end entity). On January 1 of the current year, M&M Partnership is liquidated. At the time of the liquidation, Mao's basis in her partnership interest is $117,000 and Madhav's basis is $41,800. Mao receives the following assets in the liquidation, which is a proportionate liquidation: (Leave no answer blank. Enter zero if applicable.) Cash Inventory Land Totals Tax Basis FMV $34,250 $34,250 7,550 8,720 925 1,510 $42,725 $44,480 What is the amount and character of Mao's recognized gain or loss? Neither gain nor loss recognized $72,775 of ordinary loss $2,085 of ordinary income $72,775 of capital loss $2,085 of capital gain McD, Inc., has been an S corporation since its inception. On July 15, 2020, McD, Inc., distributed $51,000 to Ronald. Ronald's basis in his McD, Inc., stock on January 1, 2020, was $46,500. For 2020, Ronald was allocated $11,500 of ordinary income from McD, Inc., and no separately stated items. During 2020, McD took out a nonrecourse loan of $5,000. What is Ronald's basis in his McD, Inc., stock after all transactions in 2020? Multiple Choice $7,000 $28,000 $39,500 None of the choices are correct. $16,500