Bill decided to incorporate his printing business and to give his manager, charlie, a share in the business. bill's sole proprietorship transferred the following to tom co.: basis value accounts payable $0 $7,000 accounts receivable 0 8,000 printing press 6,000 10,000 truck 24,000 20,000 cash 2,000 2,000 bill received 70 shares of the stock, worth $29,000. charlie invested $2,000 in cash and received the remaining 30 shares of the stock. what are the tax consequences to bill, charlie, and tom co.