Individuals Allen and Betty form an S corporation, with Allen contributing cash of $100,000 for a 50% interest and Betty contributing appreciated ordinary income property with an adjusted basis of $20,000 and a fair market value of $100,000. (I) Determine Betty's initial basis in her stock, assuming that she receives a 50% interest. (II) The S corporation sells the property for $120,000. Determine Allen and Betty's stock basis after the sale. (III) Determine Allen and Betty's gain or loss if the company is liquidated