Jackie owns 75 of the 100 outstanding shares of Parent Corporation stock. Parent owns 80 of the 100 outstanding shares of Subsidiary Corporation stock. Jackie sells 25 shares of her Parent stock to Subsidiary for $17,500. Jackie's basis in her Parent shares is $13,500 (S180 per share). At the end of the year of sale, Subsidiary and Parent have E&P of $33,500 and S(1,500), respectively. Read the requirements. Requirement a. What are the amount and character of Jackie's recognized gain or loss on the sale? Jackie will recognize of Requirement b. What is Jackie's basis in her remaining shares of Parent stock? Jackie's basis in her remaining shares of Parent stock is Requirement c. How does the sale affect the E&P of Parent and Subsidiary? Subsidiary's E&P is Subsidiary's E&P after the sales is Parent's E&P is Parent's E&P after the sales is Requirement d. What basis does Subsidiary take in the Parent shares it purchases? Subsidiary's basis in the Parent shares is Requirement e. How would your answer to Part a change if Jackie instead sells 50 of her Parent shares to Subsidiary for $35,000? Jackie will recognize of