2) Ten years ago Finn Corporation formed a new 100 percent owned subsidiary, Wing Corporation, with a $500,000 investment. Wing Corporation is completely liquidated this year, with all assets distributed to Finn Corporation. As of the liquidation date, Wing has a basis in its assets of $350,000, and the assets are valued at $550,000. What is the gain or loss recognized by Finn Corporation due to the liquidating distribution, and what is Finn Corporation's basis in the assets received from Wing Corporation