Stacy is interested in purchasing Spud's Potato Chip Company. Spud's assets are:

	Adjusted Basis	Fair market Value
Cash	2,300	2,300
Inventory	16,500	19,200
Equipment	13,000	9,000
Land	10,000	40,500
Building	66,600	129,000
Total	$108,400	$200,000

1. Prepare a table showing the basis of each asset if Stacy pays a total of $240,000 for all the assets.

2. Prepare a table showing the basis of each asset if Stacy buys all the stock of Spud's for $240,000.