Elton, Neil, Courtney, and Zelma form Ecru Corporation with the following investments:

In addition to its stock, Ecru distributes cash as follows: $10,000 to Neil, $20,000 to Courtney, and $100,000 to Zelma. Assume that each share of Ecru stock is worth $1,000. Regarding these transactions, provide the following information:
a. Neil's realized and recognized gain (or loss).
b. Neil's basis in the Ecru stock.
c. Ecru's basis in the inventory.
d. Courtney's realized and recognized gain (or loss).
e. Courtney's basis in the Ecru stock.
f. Ecru's basis in the machinery and equipment.
g. Zelma's realized and recognized gain (or loss).
h. Zelma's basis in the Ecru stock.
i. Ecru's basis in the land and building.

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Number of Shares Issued Basis to Transferor Fair Market Value From Elton-cash From Neil-inventory $ 200,000 200 $ 200,000 260 370,000 1,300,000 From Courtney-machinery and equipment Zelma-land and building 350 1,200 1,270,000