Required information [The following information applies to the questions displayed below.] Amy and Brian were investigating the acquisition of a tax accounting business, Bottom Line Incorporated (BLI). As part of their discussions with the sole shareholder of the corporation, Ernesto Young, they examined the company's tax accounting balance sheet. The relevant information is summarized as follows: Cash Receivables Building Land Total Payables Mortgage* Total FMV $ 16,750 24,400 137,500 276,000 Adjusted Tax Basis $ 16,750 24,400 68,750 92,000 $ 454,650 $ 201,900 $ 27,900 184,500 $ 212,400 $ 27,900 184,500 $ 212,400 Appreciation * The mortgage is attached to the building and land. 68,750 184,000 $ 252,750 Ernesto was asking for $448,500 for the company. His tax basis in the BLI stock was $186,000. Included in the sales price was an unrecognized customer list valued at $112,000. The unallocated portion of the purchase price ($94,250) will be recorded as goodwill. (Negative amounts should be indicated by a minus sign.) b. What amount of gain or loss does Ernesto recognize if the transaction is structured as a direct asset sale to Amy and Brian, and BLI distributes the after-tax proceeds [computed in part (a)] to Ernesto in liquidation of his stock? (Round intermediate calculations and final answer to the nearest whole dollar amount.) Gain or loss recognized c2. What is the tax basis in the assets received by Amy and Brian? Complete this question by entering your answers in the tabs below. Req c1 Req c2 What is the tax basis in the assets received by Amy and Brian? Cash Accounts receivable Building Land Customer list Goodwill Total $ 0