Tax Drill - Basis Adjustment

In a transaction qualifying under § 351, Kelcy transfers the following assets to Connor Corporation in exchange for all of its stock: equipment (basis $200,000; fair market value $180,000), land (basis $65,000; fair market value $80,000) and machinery (basis $100,000; fair market value $95,000). The alternative approach is not elected.

Connor Corporation has a basis of: $__________  in the equipment, $__________  in the land, and $__________  in the machinery. Kelcy recognizes __________ on the transfer. Kelcy's has a basis of $__________  for his stock.