Required information (The following information applies to the questions displayed below.] Carla incorporated her 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 FMV $ 25,250 209,000 259,750 $ 494,000 Adjusted Tax Basis $ 14,300 159,750 379,000 $ 553,050 Total The corporation also assumed a mortgage of $192,750 attached to the building and land. The fair market value of the corporation's stock received in the exchange was $301,250. (Negative amounts should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable.) a. What amount of gain or loss does Carla realize on the transfer of the property to the corporation? a. What amount of gain or loss does Carla realize on the transfer of the property to the corporation? Fair market value of stock received $ 301,250 192,750 Mortgage assumed by corporation Amount realized $ 494,000 Adjusted tax basis of the property transferred Loss realized