Cartman Corporation owns 90 shares of SP Corporation. The remaining 10 shares are owned by Kenny (an individual). After several years of operations, Cartman decided to liquidate SP Corporation by distributing the assets to Cartman and Kenny. SP reported the following balance sheet at the date of liquidation: Cash Accounts receivable Land Goodwill Total assets Accounts payable Common stock-Cartman (90%) Common stock-Kenny (10%) Total shareholder equity FMV Tax Basis $ 10,000 $ 10,000 5,000 5,000 $ 65,000 15,000 25,000 $105,000 $ 30,000 $ 5,000 $ 5,000 $ 90,000 $ 10,000 10,000 7,000 $100,000 $ 17,000 a. Compute the gain or loss recognized by SP, Cartman, and Kenny on a complete liquidation of the corporation, where SP distributes $10,000 of cash to Kenny and the remaining assets to Cartman. (Leave no answer blank. Enter zero if applicable. Negative amounts should be indicated by a minus sign.) Gain or loss recognized by SP Gain or loss recognized by Cartman Gain or loss recognized by Kenny $ 3,000 b. Compute the gain or loss recognized by SP, Cartman, and Kenny on a complete liquidation of the corporation, where SP distributes land to Kenny and the remaining assets to Cartman. Assume that the land has a fair market value of $10,000 and a basis of $2,000. Also assume that the land is not subject to any debt and that Kenny's distribution amount is not affected by any tax paid by SP (Cartman agrees to bear any SP tax costs). (Leave no answer blank. Enter zero if applicable. Negative amounts should be indicated by a minus sign.) Gain or loss recognized SP Gain or loss recognized Cartman Gain or loss recognized Kenny