Answer the following questions regarding four liquidating distribution scenarios, the partnership also liquidates. If there is no gain or loss or if an amount is zero, enter " 0 ". a. For each, determine the amount and character of any gain or loss to be recognized by each partner and the basis of each asset (other than cash) recelved. Assume for all scenarios that the distributions of hot assets are proportionate to the partners (or there are no hot assets). You can use the format in Concept Summary 22.4. (1) Rafael has a partnership basis of $118,000 and receives a distribution of $147,500 in cash. He will recognize of $ (3) Nell has a partnership basis of $295,000. He receives $118,000 cash, inventory with a basis to the partnership of $88,500, and a capital asset with a partnership basis of $59,000. The inventory and capital asset have fair market values of $59,000 and $88,500, respectively. Feedback Theck My Work Partially correct (4) Oscar has a partnership basis of $118,000. He receives a distribution of $29,500 cash and an account receivable with a basis of $0 to the partnership (value is $44,840 ). He will recognize of s x