The following information pertains to the transfer of real estate in regards to a troubled debt restructuring by MSG Co. to Beta Co. in full settlement of MSG's liability to Beta: 
What amount should Beta report as a gain or (loss) on restructuring?
Definitions:
Perfectly Competitive Firm
A business that operates in a market where there are many buyers and sellers, all selling identical products, with no single entity being able to influence the market price.
Market Price
The current price at which a good or service can be bought or sold in a marketplace.
Short Run
A period in economic analysis during which some factors of production or inputs are fixed, limiting the ability of the economy or firm to adjust.
Long Run
A timeframe in economic analysis where all inputs can be adjusted, allowing for the analysis of long-term strategic planning.
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