Ramon incorporated his 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 Inventory Building Land Total FMV $ 33,500 Adjusted Tax Basis $9,300 54,000 198,000 $285,500 30,250 87,000 $ 126,550 The fair market value of the corporation's stock received in the exchange equaled the fair market value of the assets transferred to the corporation by Ramon. Note: Leave no answer blank. Enter zero if applicable. Negative amount should be indicated by a minus sign. Required: a. What amount of gain or loss does Ramon realize on the transfer of the property to his corporation? b. What amount of gain or loss does Ramon recognize on the transfer of the property to his corporation? c. What is Ramon's basis in the stock received in the new corporation? 1000 Required A Required B Required C What amount of gain or loss does Ramon realize on the transfer of the property to his corporation? Gain or loss realized Required B > Complete this question by entering your answers in the tabs below. Required A Required Required C What amount of gain or loss does Ramon recognize on the transfer of the property to his corporation? Gain or loss recognized c. What is Ramon's basis in the stock received in the new corporation? Complete this question by entering your answers in the tabs below. Required A Required B Requd C What is Ramon's basis in the stock received in the new corporation? Tax basis