Please use the following information to answer questions 19 and 20 During 2015, CDE Corporation (an S corporation since its inception in 2013) liquidates this year by S distributing a parcel of land to its sole shareholder Clark. The fair market value of the land at the time of the distribution was $100,000 and CDE's tax basis in the property was $130,000. Before considering the effects of the distribution, Clark's basis in his CDE stock was $40,000. 19. What amount of loss, if any, does CDE recognize on the distribution? 20. What amount of income, if any, does Clark recognize on the distribution and what is his basis in the land