Required informatio [The following information applies to the questions displayed below.] Rivendell Corporation uses the accrual method of accounting and has the following assets as of the end of 2017. Rivendell converted to an S corporation on January 1, 2018. (Leave no answer blank. Enter zero if applicable.) Adjusted Basis Asset FMV Cash Accounts receivable Inventory Land Totals $59,000 59,000 49,000 49,000 158,500 69,500 138,000 172,500 $404,500 $350,000 b. Assuming the land was valued at $276,000, what would be Rivendell's net unrealized gain at the time it converted to an S corporation? Answer is complete but not entirely correct Net unrealized built-in gain 54,500 c. Assuming the land was valued at $172,500 but that the inventory was valued at $104,000, what would be Rivendell's net unrealized gain at the time it converted to an S corporation? Net unrealized built-in gain