BJS corporation has 4 shareholders. Each shareholder owns 25 of the 100 outstanding shares, and each of them has a $10,000 basis in their stock. It owns a tract of land that it purchased 10 years ago for $100,000. The land has a current market value of $60,000. BJS distributes a 25% interest in the land to each shareholder. What are the consequences for the corporation and the shareholders if this transaction is a non-liquidating distribution? What are the consequences if it is a liquidating distribution in redemption of their stock in the corporation