SubCo. has one shareholder ParentCo. It distributes the following assets to ParentCo. in a complete liquidation:

Land FMV $$150,000,$ Basis $$120,000$

Inventory FMV $$60,000,$ Basis $$45,000$

Building FMV $$280,000,$ Basis $$315,000$

Cash $$10,000$

ParentCo. has a $$400,000$ basis in its shares.

How much total gain or loss will ParentCo. recognize on this liquidation?