Drew receives 500 shares of Along Corporation stock from his aunt on May 20, 2021, as a gift when the stock has a $90,000 FMV. His aunt purchased the stock in 2011 for $45,000. The taxable gift is $90,000 because she made earlier gifts to Drew during 2021 and used the annual exclusion. She paid a gift tax of $13,950 on the gift of Along stock to Drew. Drew also inherited 900 shares of Rib World Corporation preferred stock when his uncle died on November 12, 2020, when the stock's FMV was $117,000. His uncle purchased the stock in 1999 for $108,000. Read the requirements. a. Determine the gain or loss on the sale of Along and Rib World stock on December 15, 2021 if Along stock was sold for $92,000, and Rib World stock was sold for $118,500. (Do not round intermediary calculations. Only round the amount you input in the cell to the nearest dollar. Use a minus sign or parentheses to enter a loss. Enter a "0" if there is no gain or loss) Investment Scenario a Gain (loss) Drew receives 500 shares of Along Corporation stock from his aunt on May 20, 2021, as a gift when the stock has a $90,000 FMV. His aunt purchased the stock in 2011 for $45,000. The taxable gift is $90,000 because she made earlier gifts to Drew during 2021 and used the annual exclusion. She paid a gift tax of $13,950 on the gift of Along stock to Drew. Drew also inherited 900 shares of Rib World Corporation preferred stock when his uncle died on November 12, 2020, when the stock's FMV was $117,000. His uncle purchased the stock in 1999 for $108,000 Read the requirements. Investment Gain (loss) Along Rib World b. Determine the gain or loss on the sale of Along and Rib World stock on December 15, 2021 if Along stock was sold for $88,100, and Rib World stock was sold for $109,700. (Do not round intermediary calculations. Only round the amount you input in the cell to the nearest dollar. Use a minus sign or parentheses to enter a loss. Enter a "0" if there is no gain or loss) Drew receives 500 shares of Along Corporation stock from his aunt on May 20, 2021, as a gift when the stock has a $90,000 FMV. His aunt purchased the stock in 2011 for $45,000. The taxable gift is $90,000 because she made earlier gifts to Drew during 2021 and used the annual exclusion. She paid a gift tax of $13,950 on the gift of Along stock to Drew. Drew also inherited 900 shares of Rib World Corporation preferred stock when his uncle died on November 12, 2020, when the stock's FMV was $117,000. His uncle purchased the stock in 1999 for $108,000. Read the requirements. Investment Along Rib World Scenario b. Gain (loss) c. Assume the same as in Part a except his aunt purchased Along stock for $105,000 and his uncle purchased Rib World stock for $126,000. (Do not round intermediary calculations. Only round the amount you input in the cell to the nearest Drew receives 500 shares of Along Corporation stock from his aunt on May 20, 2021, as a gift when the stock has a $90,000 FMV. His aunt purchased the stock in 2011 for $45,000. The taxable gift is $90,000 because she made earlier gifts to Drew during 2021 and used the annual exclusion. She paid a gift tax of $13,950 on the gift of Along stock to Drew. Drew also inherited 900 shares of Rib World Corporation preferred stock when his uncle died on November 12, 2020, when the stock's FMV was $117,000. His uncle purchased the stock in 1999 for $108,000. Read the requirements. c. Assume the same as in Part a except his aunt purchased Along stock for $105,000 and his uncle purchased Rib World stock for $126,000. (Do not round intermediary calculations. Only round the amount you input in the cell to the nearest dollar. Use a minus sign or parentheses to enter a loss. Enter a "0" if there is no gain or loss.) Investmant Scenario c. Gain forel