Parent Corporation owns 75% of Subsidiary Corporation's single class of stock. On March 12, Parent purchases for cash the remaining 25% of the Subsidiary stock from three individual shareholders pursuant to a tender offer. Parent and Subsidiary adopt a plan of liquidation on October 1, and Subsidiary distributes its assets to Parent on December 1 in exchange for all of Subsidiary's outstanding stock. Parent recognizes _____________ on the liquidation of Subsidiary because all the Sect. 332 requirements had been satisfied _______ adoption of the plan of liquidation.