Jon Ellyn and Ror each own 100 shares of JER Corporation JER adopts a plan of complete liquidation JER distributes $100,000 of cash to Jona capital asset with a fair market value of $100,000 and a tax basis $120,000 to Ellyn, inventory with a fair market value of $100.000 and tax basis of $70,000 to Rort. What gain and/or los dos JER recognize on these distributions 2 O A. Ordinary income $30,000 OS. No gain or loss O c. capital loss $20,000 and ordinary income $30.000 D. capital loss $20,000 m statement appropriate input type, and other instructions here