Orange Inc. was a regular C corporation that made an election to be taxed as an S-corporation that was effective on 1/1/17. At that time, Orange owned the following assets:

	Fair Market Value	Adjusted Basis	App (Dep)
Asset 1	150,000	125,000	25,000
Asset 2	200,000	230,000	(30,000)
Asset 3	200,000	100,000	100,000

During 2019, Orange sold Asset 3 for $225,000. Complete the following:

What is the net built-in gain on 1/1/17?
What is the total recognized gain recognized in 2019?
What is the recognized built-in gain in 2019?
What is Orange's built-in gain tax liability?
What is the amount of gain that will pass through?