Dick, a cash basis taxpayer, incorporates his sole proprietorship. He transferred the following itmes to newly created Orange corporation. Adjusted Fair Basis Market Value Cash $60,000 $60,000 Building 100,000 175,000 Mortgage payable (secured by the building and held 180,000 180,000 for 15 years) (a) Calaculate realized and recognized gain by Dick (b) Calculate Dick's basis in stock Calculate Orang's basis in assets received from Dick. 0 1 B . W 99+