1. In which of the following independent situations is the Sec351 control requirement met? Where it is not met, please tell mewhy?
a) Jane transfers property to Jet corporation for 75% of Jetcorporation stock, and Susan provides services to jet Corporationfor the remaining 25% of jet corporation stock.
b) Paul transfers property to Pride Corporation for 60% ofPrude's stock, and Bob transfers property worth $15,000, andperformed services worth $25,000 for the remaining 40% of Pride'sstock
c) Herb and his wife CArolyn each have owned 50% of the 100outstanding shares of Wykert Cororation since it was formed threeyears ago. In the current year, their daughter, Cindy, transfersproperty to Wykert Corporation for 50 newly issued shares of Wykertstock.
d) John and Pam develop a plan to form PJ Corporation on May 2of this year. John transfers property worth $50,000 for 50 sharesof PJ Corporation stock, as part of a single plan to incorporate,Pam transfers $50,000 cash for 50 shares of PJ Corporation stock onJuly 1.