Here is Question $31$ written out:Question $31$Charla Corporation is owned eighty percent $(80\%)$ by Jeanette and twenty percent $(20\%)$ by Victoria who are unrelated to each other. Pursuant to a Complete Liquidation, Charla Corporation distributed Land that had a Fair Market Value on the date of distribution of $$100,000$ and a basis to Charla Corporation of $$600,000.$ The Land was acquired by Charla Corporation in a Section $351$ Transfer two $(2)$ years ago from Victoria when its Fair Market Value was $$700,000.($Assume that there was no business purpose for the transfer$).$ Pursuant to the Complete Liquidation, the Land is distributed proportionately $($pro$-$rata$)$ to Jeanette and Victoria $($i$.$e$.,$ eighty percent $(80\%)$ to Jeanette and twenty percent $(20\%)$ to Victoria$).$ The Recognized Loss to Charla Corporation is:Let me know if youd like help answering it too!