Please assist me in determining if I am doing this correctly.

PakGajnom-Ln During the current year. ABC Corporation sells a tract of land for 95.000. The sale is made to Bendi. ABC Corporation's sole shareholder. ABC Corporation originally purchased the land 5 years earlier For 598.000. 1. What is the amount of gain or loss that HBC' Corporation will recognize on the sale during the current year? 2. Assume that in the following \\I'earr Bendi sells the land For $35,000. What is the amount ofga in orloss Bendi will recognize? Wh at. are the tax con sequences to ABC Corporation upon the subsequent sale by Bendi? 3. Assume that in the following year. Bendi sells the land For $70,000. What is the amount ofgain orloss Bendi will recognize? 4. Assume that in the following year. Bendi sells the land For5105.000. What is the amount of gain. or loss Bendi will recognize? Part 2: Gross Prot ami'l'hxable Income Answer each oF the questions below. You must show your calculations and explain your answers. In Year 1 ABC Company sells equipment to XYZ Company For 5400.000 in an installment sale. ABC Company has a basis in the equipment of $250,000. In 'r'ear 1. ABC company will receive three payments totaling $300.000 and in year 2 the nal payment totaling $100,000. 1. What is the gross prot on the sale? 2. What is the gross prot percentage? 3. How much taxable income is recognized in Year 1? 4. How much taxable income is recognized in Year 2? 5. If the equipment was sold for a price of$100.000 rather than 5400.000. how much loss would be recognized in Year 2