Yager and Boggs formed Y\&B Company in 2018. Yager contributed a building with a fair market value of \(\$ 97,000\), a mortgage of \(\$ 75,000\) and an adjusted basis of \(\$ 50,000\) in return for 22 shares of \(Y \& B\) Company stock. (Y\&B assumed the mortgage.) Boggs contributed land with a fair market value of \(\$ 22,000\) and an adjusted basis of \(\$ 40,000\) in return for 12 shares of \(Y \& B\) Company stock and \(10 \$ 1,000\) bonds. Lyle performed legal and accounting work during the incorporation process in return for six shares of stock. Determine the tax consequences of the transfers to all parties.