4 ABC partnership is equally owned by four partners-A, B, C and D.D sells his interest in partnership for $60,000 and the assumption of D's share of liabilities. Immediately before the sale the partnership cash basis balance sheet is as shown below: Basis FMV Basis FMV Cash 40000 40000 Note Payable 30,000 30,000 AVR 0 80,000 A's Capital 10,000 37,500 Capital Assets 30000 60000 B'S Capital 10,000 37,500 Total 70000 180,000 C's Capital 10,000 37,500 D's Capital 10,000 37,500 Total 70,000 180,000 What is amount realized by D on the sale Calculate total gain realized by D I Separate the gain between capital gain and ordinary income