Ramon incorpocated his sole proprietorship by transferring inventory, a buikding, 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 acjusted tax bases: The falf market value of the corporation's stock recelved in the exchange equaled the fair market value of the assets transferred to the corporation by Ramon. (Leave no answer blank, Enter zero if applicable. Negative amount should be indicated by a minus sign.) Problem 19-37 Part a (Algo) a. What amount of gain of loss does Ramon realize on the transfer of the groperty to his corporation? Ramon incorporated his sole proprietorshlp by transferring inventory, a bulling, 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: The fair market value of the corporation's stock recelved in the exchange equaled the fair market value of the assets transferred to the corporation by Ramon. (Leave no answer blank. Enter zero if applicable. Negative amount should be indicated by a minus sign.) Problem 19.37 Part b (Algo) b. What amount of gain or loss does Ramon recognize on the transfer of the property to his corporation? Ramon incorporated his sole proprietorshlp by transferring inventory, a bulling, 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: The fair market value of the corporation's stock recelved in the exchange equaled the fair market value of the assets transferred to the corporation by Ramon. (Leave no answer blonk. Enter zero if applicable. Negative amount should be Indicated by a minus sign.) Problem 19-37 Part c (Algo) c. What is Ramon's basis in the stock he recelves in his corporation