[The following information applies to the questions displayed below.) Zhang incorporated her sole proprietorship by transferring inventory, a building, and land to the corporation in return for 100 percent of the corporation's stock. The property transferred to the corporation had the following fair market values and adjusted bases: FMV Inventory $ 96,000 Building 720,000 Land 1,104,000 Total $1,920,000 Adjusted Basis $ 48,000 480,000 1,440,000 $1,968,000 The corporation also assumed a mortgage of $100,000 attached to the building and land. The fair market value of the corporation's stock received in the exchange was $1,820,000. The transaction met the requirements to be tax-deferred under $351. (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 Zhang realize on the transfer of the property to her corporation? Gain or loss realized b. What amount of gain or loss does Zhang recognize on the transfer of the property to her corporation? Gain or loss recognized c. What is Zhang's tax basis in the stock she receives in the exchange? Tax basis d. What is the corporation's adjusted basis in each of the assets received in the exchange? Inventory Building Land Adjusted basis