Apple, LLC was in its third year of operations when Apple decided to expand the number of members from two, John & Yoko, with equal profits and capital interests to three members, John, Yoko, and Sean. The third member, Sean, will contribute his financial expertise to the LLC in exchange for a 1/3 capital and profits interest in Apple. Given the balance sheet below reflecting the financial position of Apple on the date Sean is admitted, please answer the following questions: Apple Limited Liability Company Balance Sheet Basis Basis FMV Cash 20,000 10,000 10,000 20,000 Inventory 5,000 20,000 Equipment 10,000 FMV 20,000 Accounts payable 5.000 Mortgage payable 17,000 60,000 John-Capital Yoko Capital 102,000 Total Liab and OE Building 45,000 28,000 36,000 22,000 36,000 Total assets 80,000 80,000 102,000 a. How much income will Sean report? Calculate John, Yoko, and Sean's tax basis in Apple LLC after Sean is admitted as a partner. b. a. If, instead, Sean receives a 1/3 profits interest. Please answer the following questions. How much income will Sean report? Calculate John, Yoko, and Sean's tax basis in Apple LLC after Sean is admitted as a partner. b. Please show all calculations