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Required information Problem 19-64 (LO 19-5) (Algo) [The following information applies to the questions displayed below) Jefferson Millinery Incorporated (JMI) decided to liquidate its wholly

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Required information Problem 19-64 (LO 19-5) (Algo) [The following information applies to the questions displayed below) Jefferson Millinery Incorporated (JMI) decided to liquidate its wholly owned subsidiary 8 Miles High Incorporated (SMH). SMA had the following tax accounting balance sheet (Negative amount should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable.) Appreciation Cash Building Land Total THTV $ 261,000 54.000 197.000 Adjusted Tax Basis $261,000 16.500 116,500 $ 394,000 47.500 30.00 $ 128.00 Problem 19-64 Part o (Algo) o. What amount of gain or loss does recognize in the complete liquidation Gain or los con

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