Sarah owns Gonzalez Corporation, a Corporation. Sarah's basis for his Gonzalez stock is $120,000. The corporation's assets are summarized below. In addition, Gonzalez Corporation owes creditors $80,000 Gonzalez Corporation sells the equipment for $300,000 to an unrelated purchaser. Gonzalez then liquidates paying all creditors and any outstanding tax obligations first. Assume a 34% tax rate for Gonzalez. Analyze this transaction. What is the impact to Sarah and Gonzalez Corporation? Explain your answers in detail and show your calculations. Both explanations and calculations must be a part of your answer to be awarded points