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: (Leave no answer blank. Enter zero if applicable. Negative amounts should be indicated by a minus sign.) Cash Receivables Building Land Total FMV $ 8,000 16,000 100,000 215,000 $ 339,000 Adjusted Tax Basis Appreciation $ 8,000 16,000 50,000 50,000 115,000 100,000 $ 189,000 $ 150,000 Payables Mortgage Total $ 20,000 111,000 $ 131,000 $ 20,000 111,000 $ 131,000 * The mortgage is attached to the building and land. Ernesto was asking for $460,000 for the company. His tax basis in the BLI stock was $140,000. Included in the sales price was an unrecognized customer list valued at $140,000. The unallocated portion of the purchase price ($112,000) will be recorded as goodwill. Assume Ernesto agrees to sell his stock in BLI to Amy and Brian for $460,000. b. What amount of gain or loss does Ernesto recognize if the transaction is structured as a stock sale to Amy and Brian? Gain or loss recognized