Earl purchases all the assets and assumes the liabilities of Buddy's Market Shop. The details concerning the adjusted basis and fair market value of Buddy's assets and liabilities are as follows: Asset Inventory Equipment Adjusted Basis Fair Market Value $29,800 $40,100 21,500 70,700 Land 9,500 14,300 Building 116,400 150,500 (60,000) (60,000) a. If Earl pays $247,200 for Buddy's net assets, then Earl's basis in the assets, liabilities, and goodwill is $ Liabilities b. Assume that Buddy's Market Shop is a closely held corporation and that Earl pays $247,200 for all the stock. Earl's basis in the stock is $