Clear Formatting PROBLEM 6 Ally and Katie for the KA Corporation, which will elect S status, with a transfer of the following properties: Ally $700,000 cash $900,000 FMV property $500,000 tax basis liability assumed by the partnership Katie Both Mary and Todd receive a 50% interest in the corporation. COMPLETE THE FOLLOWING TABLE (12 points-2 each) Basis of Stock Received 700,000 Realized Gain Recognized Gain Ally Katie 500,000