Katarina transferred her 10% interest to spartan company as part of a complete liquidation of the company. in the exchange, she received land with a fair market value of $200,000. katarina's basis in the spartan stock was $100,000. the land had a basis to spartan company of $50,000.

(a)-what amount of gain does spartan recognize in the exchange?
(b)-what is katarina's basis in the land she receives?

John has served as the chief operating officer (coo) for business graphics, inc., a publicly owned firm, the past 5 years. which of the following statements about john is correct? both john and the ceo of business graphics must certify to the sec that the firm's financial statements are accurate. as the coo, john will be ranked higher than the ceo but still below the cfo. in john's postition as the coo, it is highly unlikely that he would also be the chairperson of the board of directors. as the coo, john would typically be involved with accounting, finance, and asset purchase decisions.