Kappa Company has two equal owners, Dale and Jodi. Prior to a property distribution, each owner has a $100,000 basis in his or her ownership interest. In the current year, Kappa distributes property to Dale having a $55,000 FMV and a $40,000 basis and distributes property to Jodi having a $55,000FMV and a $67,000 basis. The property is a capital asset Requirement a. Determine Kappa's gain or loss recognized (if any), the owners' gain or loss recognized (if any), and the owners' basis in his or her ownership interest after the distribution if Kappa is a partnership. First, calculate each partner's basis in his or her ownership interest after the distribution. (If an input field is not used in the table, leave the input field empty; do not select a label or enter a zero.) Now determine Kappa's gain or loss recognized (if any) and the owners' gain or loss recognized (if any). (If no gain or loss is recognized, enter a zero but do not select a label.) Requirement b. Determine Kappa's gain or loss recognized (if any), the owners' gain or loss recognized (if any), and the owners' basis in his or her ownership interest after the distribution if Kappa is an S corporation. First, calculate each shareholder's basis in his or her ownership interest after the distribution. (If an input field is not used in the table, leave the input field empty; do not select a label or enter a zero.) Now determine Kappa's gain or loss recognized (if any) and the owners' gain or loss recognized (if any). (If no gain or loss is recognized, enter a zero but do not select a label.) Requirement c. In the S corporation case, is distributing the loss property to Jodi a good idea? Why or why not? In the S corporation case, distributing the loss property to Jodi a good idea because le corporation the loss on the distribution, and Jodi a loss upon selling the property