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:

	FMV	ADJUSTED TAX BASIS
INVENTORY	$22,000	$5,900
BUILDING	$61,250	$46,250
LAND	$164,000	$82,000
TOTAL:	$217,250	$134,150

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.

A. What amount of gain or loss does Ramon realize on the transfer of the property to his corporation?