$[$The following information applies to the questions displayed below.$]$

Jones Mills Incorporated $($JMI$)$ decided to liquidate its wholly owned subsidiary, Most Help, Incorporated $($MH$).$

$MH$ had the following tax accounting balance sheet:

Note: Negative amount should be indicated by a minus sign. Leave no answer blank. Enter zero if

applicable.

a$.$ What amount of gain or loss does $MH$ recognize in the complete liquidation?

b$.$ What amount of gain or loss does JMI recognize in the complete liquidation?

c$.$ What is JMI's adjusted tax basis in the building and land after the complete liquidation?