Can anyone help? It is for tax accounting. Problem is attached

ABC Corporation has the following assets Asset Fair Market Value Tax Basis Cash Inventory 900,000 1,650,000 Equipment Land Building 1,250,000 1,200,000 3,400,000 900,000 1,500,00 0 300,000 900,000 2,300,00 0 Total 8,400,000 5,900,00 0 On 3-16-2016 ABC adopted a formal plan of liquidation. The liquidation was completed on 9-29-2016, with a distribution of assets to the shareholder(s). SITUATION 1: ABC is owned by George Wilson. George's basis in his ABC shares is $3,000,000. He has a long-term holding period so that any capital gains will be taxed at no more than 20%. Show the tax effects of the liquidation on ABC Corporation and its shareholder George, including recognized gain (if any), tax paid, and basis of assets received. SITUATION 2: ABC is owned by DEF Corporation. DEF's basis in its ABC shares is $3,000,000. DEF receives no preferential tax rate for capital gains. Show the tax effects of the liquidation on ABC Corporation and its shareholder DEF, including recognized gain (if any), tax paid, and basis of assets received. SITUATION 1 VARIATION: ABC has a NOL of $4,000,000. SITUATION 2 VARIATION: ABC has a NOL of $4,000,000