55. Jones Mills Inc. (JMI) decided to liquidate its whollyowned subsidiary, Most Help, Inc. (MH). MH had the following tax accounting balance sheet:

FMV Adjusted Basis Appreciation Cash $200,000 $200,000 Building 50,000 10,000 40,000 Land 150,000 200,000 (50,000)
Total $400,000 $410,000 $(10,000)
What amount of gain or loss does MH recognize in the complete liquidation?
What amount of gain or loss does JMI recognize in the complete liquidation?
What is JMI’s tax basis in the building and land after the complete liquidation?