. Bill decided to incorporate his printing business and to give his manager , Charlie, a share in the business. Bill's sole proprietorship transferred the following to Tom Co.: Basis Value Accounts payable $0 $7,000 Accounts receivable 0 8,000 Printing press 6,000 10,000 Truck 24,000 20,000 Cash 2,000 2,000 Bill received 70 shares of the stock, worth $29,000. Charlie invested $2,000 in cash and received the remaining 30 shares of the stock. What are the tax consequences to Bill, Charlie, and Tom Co.? . Bill decided to incorporate his printing business and to give his manager , Charlie, a share in the business. Bill's sole proprietorship transferred the following to Tom Co.: Basis Value Accounts payable $0 $7,000 Accounts receivable 0 8,000 Printing press 6,000 10,000 Truck 24,000 20,000 Cash 2,000 2,000 Bill received 70 shares of the stock, worth $29,000. Charlie invested $2,000 in cash and received the remaining 30 shares of the stock. What are the tax consequences to Bill, Charlie, and Tom Co