VI ) Adams incorporates his sole proprietorship by transferring the following assets to Newco: Machinery & Equip. Land Building Accounts Receivable Basis $50,000 $10,000 $60,000 $40,000 FMV $60,000 $50,000 $50,000 $40,000 Adams receives 100% of Newco's stock plus an S80.000 note maturing in 3 years. What are the tax consequences of this transfer to Adams