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please help Carla incorporated her sole proprietorship by transferring inventory, a building, and land to the corporation in return for 100 percent of the corporation's

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Carla incorporated her sole proprietorship by transferring inventory, a building, and land to the corporation in return for 100 percent of the corporation's stock. The property transferred to the corporation had the following fair market values and adjusted tax bases: FMV Adjusted Tax Basis Inventory $ 32,000 S 16,500 Building 212,000 145,500 Land 297,000 348,000 Total $ 541,000 S 510,000 The corporation also assumed a mortgage of $156,000 attached to the building and land. The fair market value of the corporation's stock received in the exchange was $385,000. (Negative amounts should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable.) Problem 19-38 Part a (Algo) a. What amount of gain or loss does Carla realize on the transfer of the property to the corporation? b. What amount of gain or loss does Carla recognize on the transfer of the property to her corporation? c. What is Carla's basis in the stock she receives in her corporation

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