The Raddison Corporation acquired the following property from its two shareholders, Sement and Hopkins in a Section 351 organization:

From SementBuilding FMV 500,000 Basis 150,000

From HopkinsEquipment FMV 200,000 Basis 260,000

At the time of complete liquidation of the corporation, relevant information regarding the property is as follows:

From Sement Building FMV 225,000 Basis 50,000

From HopkinsEquipment FMV 100,000 Basis 180,000

Calculate the gain or loss recognized by Raddison Corp in each of the following independent situations:

Part A- Sement is a 40% shareholder and Hopkins is a 60% shareholder. The building is distributed to Sement and the equipment is distributed to Hopkins four years after the corporation was formed.

Part B- Sement is a 60% shareholder and Hopkins is a 40% shareholder. The building is distributed to Sement and the equipment is distributed to Hopkins four years after the corporation was formed.

Part C- Sement is a 40% shareholder and Hopkins is a 60% shareholder. The equipment is distributed to Sement and the building is distributed to Hopkins twenty months after the corporation was formed