Three individuals A, B and C form X corporation during the current year.

Each transfers the following assets: A transfers Equipment (FMV: $20,000 Basis: $15,000) + Inventory (FMV: $30,000 Basis: $20,000) + GM Stock (FMV: $20,000 Basis: $19,000) in exchange for 56 shares of X stock and unimproved land with a (FMV: $14,000 Basis: $16,000). B transfers a building (FMV: $80,000 Basis: $55,000 and a Mortgage of $70,000) + $10,000 cash in exchange for 20 shares of X stock. C provides Services (FMV: $20,000) + $4,000 Cash

How much gain must A recognize?

What basis will A take in his stock?

How much gain must B recognize?