Please complete part e and g to the question.

Assume the corporation assumed a mortgage of $1,860,000 attached to the building and land. Assume the fair market value of the building is now $1,100,000 and the fair market value of the land is $2,332,000. The fair market value of the stock remains $1,660,000. e. How much, if any, gain or loss does Zhang recognize on the exchange assuming the revised facts?

g. What is the corporations adjusted basis in each of the assets received in the exchange? (Do not round intermediate calculations.)

Zhang incorporated her sole proprietorship by transferring inventory, a building, and land to the corporation in return for 100 percent of the corporation's stock. The property transferred to the corporation had the following fair market values and adjusted bases: Inventory Building Land FMV $ 88,000 660,000 1,012,000 $ 1,760,000 Adjusted Basis 44,000 440,000 1,320,000 $1,804,000 Total The corporation also assumed a mortgage of $100,000 attached to the building and land. The fair market value of the corporation's stock received in the exchange was $1,660,000. The transaction met the requirements to be tax-deferred under $351. (Negative amount should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable.)