Zhang incorporated her sole proprietorship by transferring inventory, a building, and land to the corporation in return for 100 percent of the corporation's stock. The property transferred to the corporation had the following fair market values and adjusted bases: Adjusted Inventory Building Land Total THY $ 40,000 300,000 460,000 $800,000 Basis $ 20.000 200,000 600,000 5820,000 The corporation also assumed a mortgage of $100,000 attached to the building and land. The fair market value of the corporation's stock received in the exchange was $700,000. The transaction met the requirements to be tax-deferred under 5351. (Negative amount should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable.) Problem 19-40 Part g (Algo) Assume the corporation assumed a mortgage of $900,000 attached to the building and land. Assume the fair market value of the building is now $500,000 and the fair market value of the land is $1,060,000. The for market value of the stock remains $700,000. 9. What is the corporation's adjusted basis in each of the assets received in the exchange? (Do not round intermediate calculations.) Inventory Building Land Adjusted basis