sorry for the marks I didn't want to get in trouble for copyright. the purple all belong to the same person and so do the red. * the columns should be purple and red - i just need all that info answered for both* the yellow is just the corporation name. thanks

Required Information The following information applies to the questions displayed below.) b e formed a corporatio Den Inc.) on October 31 to develop a drug to address split personalities. a ll will contribute a patented formula valued at $244,000 in return for 50 percent of the stock in the corporal will contribute an experimental formula worth $142,000 and medical services in exchange for the remaining stock tax basis in the patented formula is $152,500, whereas has a basis of $17,750 in his experimental formula. (Leave no answer blank. Enter zero if applicable.) a. Describe the tax consequences of the transaction. Describe the tax consequences of the transaction in terms of inces Realized gain Realized compensation Recognized gain Recognized compensation Basis of stock received