Question: SEE PICTURE eBook Video Print Item Problem 4-32 (Algorithmic) (LO. 1, 2) Maria and Bob form Robin Corporation. Maria transfers property worth $367,500 with a

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eBook Video Print Item Problem 4-32 (Algorithmic) (LO. 1, 2) Maria and Bob form Robin Corporation. Maria transfers property worth $367,500 with a basis of $128,625 for 70 shares in Robin Corporation. Bob receives 30 shares for property worth $147,000 with a basis of $29,400 and legal services worth $14,700 in organizing the corporation. If there is no gain or loss, enter "O" for the amount. a. What gain or income, if any, will the parties recognize on the transfer? Maria recognizes Bob recognizes b. What basis do Maria and Bob have in the Robin Corporation stock? Maria has a basis of , and Bob has a basis of in the stock. c. What is Robin Corporation's basis in the property and services it received from Maria and Bob? Robin Corporation has a basis of transferred. in the property Maria transferred and a basis of in the property Bob

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