Charlie, Inc. converted to an S corporation on January 1, 2022. At that time, Charlie, Inc. had cash ($40,000), inventory (FMV $60,000, Basis $30,000), accounts receivable (FMV $40,000, Basis $40,000), and equipment (FMV $62,000, Basis $80,000). What is Charlie, Inc.'s built-in gain or loss on January 1, 2022?