Joe, Bill, and Fred are forming the JBF Partnership by contributing the following:

$\backslash$table$[[,$Item,FMV$,$Adjusted Basis$],[$Joe$,$Legal services,$90,000,-],[$Bill$,$Accounting services,$10,000,-],[,$Equipment,$20,000,18,000],[,$Inventory,$50,000,54,000],[$Fred$,$Inventory,$35,000,39,000],[,$Equipment,$23,000,40,000]]$

$($a$)$ What is Joc's total realized gain$/$income or loss?

$($b$)$ What basis does the partnership take in the inventory contributed by Bill?

$($c$)$ What is Bill's total recognized gain$/$income or loss?

$($d$)$ What is Fred's total realized gain$/$income or loss?

$($e$)$ What is Fred's total recognized gain$/$income or loss?

$($f$)$ What is Fred's basis in his partnership interest?