Shoe Corporation and Sock, Inc. exchanged two pieces of property in a qualifying like-kind exchange. Stuff That Stuff That Shoe Exchanged Sock Exchanged Original purchase 4/1/03 11/15/02 Adjusted basis on exchange date $ 410,000 5805,000 FMV on exchange date 5 630,000 5765,000 Cash Boor $ 135,000 $-0 (a) Calculate Shoe Corporation's i) realized and it) recognized gain or loss on this transaction and il) basis in the new property (b) Calculate Sock, Inc.'s i) realized and ii) recognized gain or loss on this transaction and ill) basis in the new property a) Computations for Shos Corporation - 1) Realized Gain (Loss): 11) Recognized Gain (Loss): iii) Basis in Property Received: b) Computations for Sock, Inc. - i) Realized Gain (Loss): ii) Recognized Gain (Loss): iii) Basis in Property Received