please answer all questions

w te B! U x x ADA Format Painter Clipboard Font Paragraph A Mand H-old friends from GBC track days-meet up with their scientifically slanted buddy - Gizmo. They decide to form a super-sneaker company...hoping to set up for success by targeting aspiring Olympian track stars! M has a building worth 400,000 (100,000 basis). H has a rented warehouse full of old sneakers, computers, printers, copiers, and various parts of stuff he has stored forever... worth 200,000 (basis). Gizmo is a mad scientist.. very creative. M and H want to pull Gizmo into their adventure/dream! But, like lots of long-haired crazy scientists, all Gizmo's got is a brain and NO MO SSS! He agrees to put his mind to work and help M and I get this business idea rolling, if they hook him up with some stock in the venturel For legal liability protection, they decide to incorporate the business into a company called MHG (some people think MHG stands for "may he go!") Corp. M will get 400.000 shares for his building: H will get 200,000 shares for his "stuff"; and Gizmo with get 100,000 shares for providing his scientific know-how services. They have determined that the MIG Corp stock is worth $700.000. QI - Each of the parties will receive MHG stock in exchange for their respective contributions" as shown above. What are the tax consequences (how much gain or loss or income, if any, gets recognized?) By M?_300,000 Realized Resonginzed gain_ By H? By Gizmo? Q2 - What will be the basis in the MHG stock received by M? H? Gizmo? Q3 - What basis will MHG Corp Inc have In the building that M provided? In the other stuff that H provided? 1045 words Type here to search 1 of 4 O