In a qualifying reorganization, Cato Corporation exchanges $$6,685,000$ worth of stock and

property valued at $$2,674,000($ $$1,337,000$ basis$)$ for all of Firestar Corporation's assets,

which have a value of $$9,359,000$ and a $$1,871,800$ 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

$$ of $

b$.$ What is Firestar's recognized gain$/$loss from the reorganization?

Firestar recognizes

$$ of $$.$