In a qualifying reorganization, Cato Corporation exchanges $5,650,000 worth of stock and property valued at $2,260,000 ($1,130,000 basis) for all of Firestar Corporation's assets, which have a value of $7,910,000 and a $1,582,000 basis. Firestar distributes the property received from Cato. The exchange meets all Code requirements. If an amount is zero, enter "0".

a. What is Cato's recognized gain/loss from the reorganization? Cato recognizes a gain of $______ .

b. What is Firestar's recognized gain/loss from the reorganization? Firestar recognizes no gain or loss of _______