Plantation Corporation distributes property ($700,000 basis and $845,000 fair market value) to its sole shareholder, Patty. The property is subject to a liability of $900,000, which Patty assumes. Plantation has E & P of $500,000 prior to the distribution.

If an amount is zero, enter "0".

a. Plantation has a gain of $_________ on the distribution and new E & P after the distribution of $________.

b. Patty has dividend income of $________ and has a basis of $__________.