1. Partner A owns a one-third interest in the ABC cash method, calendar year general partnership, which manufactures and sells inventory. A, B and C, the original partners, each made initial cash contributions of $75,000. All income has been distributed as earned. On January 1st, A sells his interest in the partnership to D. Consider the tax consequences of the sale to A, assuming he has owned his partnership interest for several years. The balance sheet of the ABC partnership (which is to be used in all parts of this problems unless the facts indicate to the contrary) is as follows: 2. Assume the same basic facts as in Problem 1, except the ABC partnership is an accrual method partnership so that th accounts receivable have an adjusted basis of $45,000 and A has an outside basis of $90,000. For each part, determine on the amount of A's Section 751(a) ordinary income: (a) A sells his interest to D on January 1 . (b) What result in (a), above, if the partnership held the inventory as a capital asset, but A is a dealer in that type of property? (c) What result in (a), above, if the partnership owns no inventory but has a 50% interest in another partnership (partnership \#2), whose only assets are inventory with a basis of $150,000 and a value of $180,000 ? (d) What result in (a), above, if in addition the partnership had a contract worth $30,000 to perform real estate management services for the next ten years