Jason, Inc., is owned by two individual (i.e., noncorporate) shareholders as follows:Ms. A owns 80% and Mr. B owns the remaining 20%.The corporation adopted a plan of complete liquidation on 3/3/x1.The corporation's balance sheet just prior to making liquidating distributions was as follows -

The "Investment portfolio" plus $100,000 cash will bedistributed to Mr. B; the "Land & factory building" plus $200,000 cash will bedistributed to Ms. A.Which of the following statements is most correct?

A. Both the $60,000 gain and the $200,000 loss will be recognized by Jason, Inc.

B. The $60,000 gain will be recognized by Jason, Inc., but not the $200,000 loss.

C. The $200,000 loss will be recognized by Jason, Inc., but not the $60,000 Gain.

D. Neither the $60,000 gain nor the $200,000 Loss will be recognized by Jason, Inc.

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