Pursuant to a complete liquidation, Woodpecker Corporation distributes the following assets to its unrelated shareholders:

2. Pursuant to a complete liquidation, Woodpecker Corporation distributes the following assets to its unrelated shareholders: land held as an investment (basis of $400,000, fair market value of $440,000), inventory (basis of $100,000, fair market value of $120,000), and marketable securities (basis of $200,000, fair market value of $150,000). What are the tax results to Woodpecker Corporation as a result of the liquidation?