Warsham Inc. sold land with a $300,000 basis to Sara Phillips for $117,000 cash. Sara owns 68 percent of Warsham's outstanding stock. Whic of the following statements is true? Warsham cannot recognize its $183,000 realized loss on sale on its current year tax retum. Warsham does not report the $183,000 realized loss on its current year financial statements. The $183,000 loss is an unfavorable temporary difference between Warsham's book and tax income. Both Warsham cannot recognize its $183,000 realized loss on sale on its current year tax return and the $183,000 loss is an unfavorable temporary differe between Warsham's book and tax income is true