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! Required information [The following information applies to the questions displayed below.] Zhang incorporated her...

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Accounting

image ! Required information [The following information applies to the questions displayed below.] 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: 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 $780,000. 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.) Assume the corporation assumed a mortgage of $980,000 attached to the building and land. Assume the fair market value of the building is now $550,000 and the fair market value of the land is $1,166,000. The fair market value of the stock remains $780,000. g. What is the corporation's adjusted basis in each of the assets received in the exchange? (Do not round intermediate calculations.)

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