I understand it's carry-over basis + gains recognized but I'm unsure how to calculate it. Please help explain the formula.

Zhang incorporated her sole proprietorship by transferring inventory, a building, and land to the corporation in return for 100 percent of the corporation's stock. The property transferred to the corporation had the following fair market values and adjusted tax bases: The corporation also assumed a mortgage of $100,000 attached to the building and land. The fair market value of the corporation's stock received in the exchange was $1,020,000. The transaction met the requirements to be tax-deferred under 351. Note: Negative amount should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable. - Assume the corporation assumed a mortgage of $1,220,000 attached to the building and land. Assume the fair market value of the uilding is now $700,000 and the fair market value of the land is $1,484,000. The fair market value of the stock remains $1,020,000. What is the corporation's adjusted tax basis in each of the assets received in the exchange? lote: Do not round intermediate calculations