z Co. adopts a plan of complete liquidation and makes the following pro rata distributions to its shareholders (assume all are individuals and each has a $2,000 basis in the Z Co. stock): A Cash $40,000 Capital $30,000 Asset B FMV BASIS $10,000 MORTGAGE $20,000 Capital Asset FMV $50,000 BASIS $10,000 D MORTGAGE $80,000 Capital FMV $1,400 Asset BASIS $3,000 (Assume that Z Co. acquired the property distributed to D in a Code 5 351 transfer 6 months before adopting a plan of liquidation when the FMV of the property was $1,800 and 2 Co's basis was $3,000) E Inventory FMV $50,000 BASIS $20,000 D Question 30 2 pts Z Co.'s recognized gain or loss on the distribution to E is O $30,000 ordinary income o $30,000 capital gain O None of these. D Question 31 2 pts The gain or loss recognized by Ais O $38,000 capital gain O None of these. O capital loss D Question 32 2 pts The gain or loss recognized by B is $8,000 capital gain $28,000 capital gain O None of these. D Question 33 2 pts The gain or loss recognized by Cis O capital loss $78.000 capital gain O $48,000 capital gain None of these. D Question 34 2 pts The gain or loss recognized by Dis 0 capital loss None of these. $1,400 capital gain D Question 35 2 pts The gain or loss recognized by Eis O $48,000 capital gain $48.000 ordinary income O None of these