Marie and Ramesh form Roundtree Corporation with the transfer of the following. Marie performs personal services for the corporation with a fair market value of $188,400 in exchange for 400 shares of stock. Ramesh contributes an installment note receivable (basis $25,000; fair market value $30,000 ), land (basis $50,000; fair market value $170,000 ), and inventory (basis $442,880; fair market value $553,600 ) in exchange for 1,600 shares. Determine Marie and Ramesh's current income, gain, or loss and calculate the basis that each takes in the Roundtree stock. If an amount is zero, enter " 0 ". Marie has income of $ and $ basis in her 400 shares of stock. Ramesh has income of $ and $ basis in his 1,600 shares of stock