I am stuck on part f.

1 0 bints eBook Print References roblem Assets Accounts receivable Cleaning equipment (net) Building Land Total assets Several years ago, your client, Brooks Robertson, started an office cleaning service. His business was very successful, owing much to his legacy as the greatest defensive third baseman in major league history and his nickname, "The Human Vacuum Cleaner Brooks operated his business as a sole proprietorship and used the cash method of accounting. Brooks was advised by his attomey that it is too risky to operate his business as a sole proprietorship and that he should incorporate to limit his liability. Brooks has come to you for advice on the tax implications of incorporation. His balance sheet is presented below. Under the terms of the incorporation, Brooks would transfer the assets to the corporation in return for 100 percent of the company's common stock. The corporation would also assume the company's liabilities (payables and mortgage). Balance Sheet Liabilities Accounts payable salaries payable Mortgage on land and building Total liabilities Required: Answer the following questions: Adjusted tax basis 50 32,000 64,000 32,000 $ 128,000 $0 0 Saved 42,000 $ 42,000 FMV $ 12,000 27,000 82,000 57,000 $ 178,000 Help $ 17,000 12,000 42,000 $ 71,000 Save C aces f. How much, if any, gain or loss (on a per-asset basis) will Brooks recognize if he had taken back a 10-year note worth $25,000 plus stock worth $82,000 plus the liability assumption? Complete this question by entering your answers in the tabs below. Req A Reg C to D Reg F How much, if any, gain or loss (on a per-asset basis) will Brooks recognize if he had taken back a 10-year note worth $25,000 plus stock worth $82,000 plus the liability assumption? (Negative amounts should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable. Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) Req B Accounts receivable Equipment Building Land Total Recognized gain/loss S 0 0 Reg E