Ella and Raquel form a business entity with Ella contributing, cash of $200,000 and Raquel contributing land which has a basis of $60,000 and a fair market value of $200,000. At the end of the first year of operations, the business entity has earned a profit of 540,000 and has outstanding liabilities of $50,000. Which of the following statements are correct? If the entity is a C corporation, Raquer's stock basis at the end of the first year is $60.000 If the entity is a partnership, Raquer's basis for her partnership interest at the end of the first year is $85,000 If the entity is an $ corporation, Raquer's stock basis at the end of the first yoar is $60,000 If the ontity is an S corporation, Raquel's stock basis at the end of the first year is $85,000