3. Ronald and Kim formed the R&K Corporation. Ronald contributed $200,000 in exchange for 2,000 shares, and Kim received 2,000 shares in exchange for the following assets:
Equipment
Building
Land
Basis
FMV
50,000
30,000
100,000
70,000
75,000
100,000
225,000
200,000
Calculate: a. any gain or loss recognized on the exchange, b. each shareholder's stock basis, and c. R&K's basis in the transferred assets.