Required information [The following information applies to the questions displayed below.] Carolina Corporation, an S corporation, has no corporate Earnings and profit from its years as a C corporation. At the end of the year, it distributes a small parcel of land to its sole shareholder, Shadlya. The fair market value of the parcel is : $70,000, and its tax basis is $40,000. Shadlya's basis in her stock is $14,000. Assume Carolina Corporation reported $0 taxable income before considering the tax consequences of the distribution. Note: Leave no answer blank. Enter zero if applicable. Assume the fair market value of the land is $25,000 rather than $70,000. What amount of gain or loss, if any, does Carolina rporation recognize on the distribution