Cornelia transfers property valued at $500 (basis = $350) to Wayside Corporation in exchange for 50 percent of its stock. Ferdinand transfers property valued at $450 (basis = $260) in exchange for 40 percent of Wayside's stock and $50 cash. Cheryl transfers $100 cash in exchange for the remaining 10% of the stock. What are Cornelia's and Ferdinand's realized gains or losses? What are their recognized gains or losses? What are their bases in Wayside's stock? What is Wayside's basis in the property received? Does Wayside have any other tax consequences?