[Solved] During 2017,CDE Corporation (an S corporation since its inception in 2015)liquidates this year by distributing a parcel of land to its sole shareholder Clark.The fair market value of the land at the time of the distribution was $100,000 and CDE's tax basis in the property was $30,000.Before considering the effects of the distribution,Clark's basis in his CDE stock was $40,000.What amount of gain (loss),if any,does CDE recognize on the distribution? What amount of income or loss,if any,does Clark recognize on the distribution and what is his basis in the land? Laboratory Workers: Professionals who perform or assist in conducting experiments and analyses in a lab setting, often related to chemistry, biology, or medicine. Analytic Laboratory: A facility equipped for performing scientific experiments and analyses, often involving chemical or biological substances. Optical Microscope: A laboratory instrument used to magnify objects that are too small to be seen with the naked eye by using lenses and light. Condenser: A device used to condense a substance from its gaseous to liquid state by cooling.