Alpha Corp is owned by Amy and Annie. Amy owns 65% and Annie owns 35%. Alpha distributies the following assets in complete liquidation, none of which were acquired in a 351 transaction or as a contribution of capital. Adj Basis FMV Cash Equipment Building $500,000 $175,000 $250,000 $500,000 $150,000 $400,000 Alpha distributes the cash and equipment to Amy and the building to Annie. Does Alpha recognize any gain or loss on this distribution? If so, please state below in detail. Cash Equipment Building