Tiffany and carlos decided to liquidate their jointly owned corporation, royal oak furniture (rof). after liquidating its remaining inventory and paying off its remaining liabilities, rof had the following tax accounting balance sheet: fmv adjusted basis appreciation (depreciation) cash $ 399,000 $ 399,000 building 84,000 27,250 56,750 land 315,000 405,000 (90,000 ) total $ 798,000 $ 831,250 $ (33,250 ) under the terms of the agreement, tiffany will receive the $399,000 cash in exchange for her 50 percent interest in rof. tiffany's tax basis in her rof stock is $59,000. carlos will receive the building and land in exchange for his 50 percent interest in rof. his tax basis in the rof stock is $121,000. assume for purposes of this problem that the cash available to distribute to the shareholders has been reduced by any tax paid by the corporation on gain recognized as a result of the liquidation. (negative amounts should be indicated by a minus sign.) d. what is carlos’s tax basis in the building and land after the complete liquidation?

Required information [the following information applies to the questions displayed below.] the following data is provided for garcon company and pepper company. garcon company pepper company beginning finished goods inventory $ 13,800 $ 18,850 beginning work in process inventory 16,700 20,700 beginning raw materials inventory 8,800 13,500 rental cost on factory equipment 28,250 26,650 direct labor 22,400 37,400 ending finished goods inventory 17,300 14,300 ending work in process inventory 23,200 19,400 ending raw materials inventory 5,900 9,600 factory utilities 11,250 15,000 factory supplies used 10,900 5,700 general and administrative expenses 32,500 44,500 indirect labor 2,500 9,880 repairs—factory equipment 4,820 2,150 raw materials purchases 41,500 63,000 selling expenses 54,800 49,000 sales 238,530 317,510 cash 33,000 23,700 factory equipment, net 222,500 124,825 accounts receivable, net 13,400 23,950 required: 1. complete the table to find the cost of goods manufactured for both garcon company and pepper company for the year ended december 31, 2017. 2. complete the table to calculate the cost of goods sold for both garcon company and pepper company for the year ended december 31, 2017.