Required information [The following information applies to the questions displayed below.] Virginia Corporation is a calendar-year corporation. At the beginning of 2022, its election to be taxed as an S corporation became effective. Virginia Corporation's balance sheet at the end of 2021 reflected the following assets (it did not have any earnings and profits from its prior years as a C corporation). In 2022, Virginia Corporation reported business income of $60,000 (this would have been its taxable income if it were still a C corporation). What is Virginia's built-in gains tax in each of the following alternative scenarios? During 2022, Virginia Corporation sold inventory it owned at the beginning of the year for $113,000. Assume the original facts cept Virginia Corporation is a C corporation, and its taxable income was $3,500