Aaron, Deanne, and Keon formed the Blue Bell General Partnership at the beginning of the current year. Aaron and Deanne each contributed $$150,000,$ and Keon transferred an acre of undeveloped land to the partnership. The land had a tax basis of $$76,000$ and was appraised at $$220,000.$ The land was also encumbered with a $$76,000$ nonrecourse mortgage for which no one was personally liable. All three partners agreed to split profits and losses equally. At the end of the first year, Blue Bell made a $$11,000$ principal payment on the mortgage. For the first year of operations, the partnership records disclosed the following information:

$\backslash$table$[[$Sales revenue,$$530,000$