Jones Mills Incorporated (JMI) decided to liquidate its wholly owned subsidiary, Most Help, Incorporated (MH). MH had the following tax accounting balance sheet: (Negative amount should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable.)

	FMV	Adjusted Tax Basis	Appreciation (Depreciation)
Cash	$ 289,800	$ 289,800
Building	62,800	14,300	48,500
Land	227,000	294,000	(67,000)
Total	$ 579,600	$ 598,100	$ (18,500)

a. What amount of gain or loss does MH recognize in the complete liquidation?

b. What amount of gain or loss does JMI recognize in the complete liquidation?

c. What is JMIs adjusted tax basis in the building and land after the complete liquidation?