Omega corporation is a ship building company focusing on luxuryvessels. Lucas is a shareholder in Omega corporation and owns $53\%$ ofthe outstanding shares. Judy is also a shareholder and owns $2\%$ ofthe outstanding shares. Conner is an officer for Omega corporation.Pierce is an officer of Omega Corporation and member of their Board ofDirectorsA. Omega corporation needs to build a new factory and needs to buythe land for this factory. Conner sells to Omega corporation for$$400,000$ some land he bought for $$250,000.$ Is Conner liable for thistransaction, why or why not?B$.$ Conner buys from the corporation one of the small ships built byOmega. These ships have been selling for $$48,000$ dollars each andthere is a six month waitlist for anyone wanting one. Conner buys hisship for $$42,000.$ Is Conner liable for this transaction, why or whynot?C$.$ Judy owns some construction equipment that would be useful for thecorporation in building the new factory. Judys equipment has a fairmarket value of $$25,000.$ Judy sells it to the corporation for$$37,000.$ Is Judy liable for this transaction why or why not?D$.$ Omega corporation no longer needs the land it had been using forits old factory and sells it$.$ The land is worth $$230,000$ and Lucasbuys it for $$210,000.$ Is Lucas liable for this transaction, why or whynot?E$.$ Pierce sells Omega corporation $1000$ tons of Steel from hisseparately owned steel company for $$100,000.$ Steel is a basicmaterial needed by Omega in the construction of their ships. Thecurrent market price of Steel is $$101$ per ton. Is Pierce Liable forthis transaction?