On March 1 of the current year, Alice, Bob, Carla, and Dick form Bear Corporation and transfer the following items: Alice purchased the building several years ago for $62,000 and it in her trade or business. In addition to the 300 Bear Corporation shares, Bob also received $10,000 in cash. Bob purchased the equipment three years ago for $50,000 and he used the equipment in his trade or business. In addition to the 50 Bear Corporation shares, Carla also received $5,000 cash. Carla purchased the van, which was a business vehicle, two years ago for $20,000. a. Does the transaction satisfy the requirements of Sec. 351? b. What is the amount and character of the income/gain or loss recognized by Alice, Bob, Carla, and Dick? c. What is each shareholder's basis in his or her Bear stock? d. What is Bear's basis in the property it received? Does Bear recognize any gain or loss in the exchange