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Amy and Brian were investigating the acquisition of a tax accounting business, Bottom Line incorporated (BL). As part of their discussions with the sole shareholder

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Amy and Brian were investigating the acquisition of a tax accounting business, Bottom Line incorporated (BL). As part of their discussions with the sole shareholder of the corporation. Ernesto Young, they examined the company's tax accounting balance sheet. The relevant information is summarized as follows Note: Leave no answer blank. Enter zero if applicable. Negative amounts should be indicated by a minus sign. * The mortgage is attached to the bulding and tand: Einesto was asking for $549,000 for the company His tax basis in the Bu stock was $180,000 included in the sales price was an unrecognized customer list valued at $180,000. The unallocated portion of the purchase price ($144,000) will be recorded as goodwil! Assume Ernesto ogrees to sell his stock in Bu to Amy and Brian for $549.000 Problem 19.58 Part a (Algo) What amount of gain of loss does Burecognize if the tronsaction is structured as a stock sale to Amy and Erian? What amount of corpotate-level tox does Bu pay because of the transaction? Amy and Brian were investigating the acquisition of a tax accounting business, Bottom Line incorporated (Bu). As part of their discussions with the sole shareholder of the corporation, Ernesto Young, they examined the company's tax accounting balance sheet The relevant information is summarized as follows. Note: Leave no answer blank. Enter zero if applicable. Negative amounts should be indicated by a minus sign. - The mortgage is attoched to the building and land. Ernesto was asking for $549.000 for the company His tax basis in the BLI stock was $180.000 included in the sales price wos an unrecognized customer list valued at $180.000 The unallocated porton of the purchase price ($144,000) will be recorded as goodwill Assume Ernesto agrees to sell his stock in Bur to Amy and Brian for $549.000 Problem 19-58 Part b (Algo) b. What amount of gain or loss does Einesto recognize if the transaction is structured as a stock sale to Amy and Erian

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