Pop Corp owns 900 shares of stock in Small Corp, which represents 90% in Small Corp. The value of the 900 shares of stock is $1080. Pop Corps basis in the 900 shares of stock $580. An unrelated individual, David, owns the remaining 100 shares of stock in Small Corp (value $120; basis $60). At the end of 2021, Small Corp was liquidated and the assets of Small Corp was distributed to its shareholders. At the end of 2021, Small Corp had earnings & profits of $500. Pop Corp had earnings & profits of $700. At the time of the liquidation, Small Corp had the following assets:

	Basis	Value
Cash	$200	$200
Real Property	$800	$1000
Total	$1,000	$1,200

Small Corp distributed the real property and $80 cash to Pop Corp and $120 cash to the other minority shareholders.

What is the amount of gain that Small Corp is required to recognize?

What is the amount of gain that Pop Corp is required to recognize?

What is the amount of gain that David is required to recognize?