Amy and Brian were investigating the acquisition of a tax accounting business, Bottom Line Inc. (BLI) 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: Appreciation Cash Receivables Basiding Lund Total TV $ 28,750 17,600 145,500 252.000 5442,050 Adjusted Basin 5.30, 750 17.600 72.750 34,000 $200, 100 72,750 199,000 $240,950 Payables Mortgage Total $31,600 126.950 $140, 250 23,600 226,750 $245, 350 The mortgage is attached to the building and tand, Emesto was asking for $546,000 for the company. His tax basis in the BLI stock was $163,000 Included in the sales price was an unrecognized customer ist valued at $148,000. The unallocated portion of the purchase price ($102,500) will be recorded as goodwill. (Negative amounts should be Indicated by a minus sign.) a. What amount of gain or loss does Bul recognize of the transaction is structured as a direct asset sale to Amy and Brian? What amount of corporate-level tax does BLI pay as a result of the transaction? Cash paid Liabilities assured s O Amount realized Adjusted Basis Gain or Loss Recognized Tax Rate 3 0 Tax 0 b. What amount of gain or loss does Ernesto recognize If the transaction is structured as a direct asset sale to Amy and Brian and BLI distributes the after-tax proceeds (computed in part (al] to Ernesto in liquidation of his stock? (Round Intermediate calculations and final answer to the nearest whole dollar amount.) Gain or low recognized C1. What are the tax benefits, if any, to Amy and Brian as a result of structuring the acquisition as a direct asset purchase? c2. What is the tax basis in the assets received by Amy and Brian? Complete this question by entering your answers in the tabs below. Req ci Reg 2 What is the tax basis in the assets received by Amy and Brian? Cash Accounts receivable Building Land Customer list Goodwill Total