Required information Problem 19-37 (LO 19-2)(Algo) The following information applies to the questions displayed below! Ramon incorporated his sole proprietorship by transferring inventory a building, and land to the corporation in retum 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 Bulidine Land tos HV 20,750 S2000 11100 103,2250 . 4520 2009 D2S 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. (Leave no answer blank. Enter zero if applicable. Negative amount should be Indicated by a minus sion) Problem 19-37 Parta (Algo) a. What amount of gain or loss does Ramon realize on the transfer of the property to his corporation? Gale or los mat + Required Information Problem 19-37 (LO 19-2) (Algo) The following information applies to the questions displayed below 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 IMV 20.750 $2,000 111.000 13.950 Aduted No 6000 49,250 527900 108,250 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. (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? Ghin or los robognized Required information Problem 19-37 (LO 19-2) (Algo) The following information applies to the questions displayed below) Ramon incorporated his sole proprietorship by transferring inventory, 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: MY Inventory Building Land $ 20,250 52,000 111,000 $ 183, 250 Adjusted Tax RAN $6.000 45,250 57.000 200,250 Total 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 (Leave no answer blank, 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 receives in his corporation Tak balls