abilities on January 1, 2019, the date the selection is made illamar a cash basis S corporation in Orlando, Florida, holds the following was Cash Adjusted Basis Fair Market Value Accounts receivable $ 200.000 $ 200.000 Equipment 0 105.000 Land 110,000 100.000 Accounts payable 1,800,000 2,500,000 During the year, Alomar collects the accounts receivable and pays the accounts payable. The built-in gains tax. 110,000