Below is the post-closing trial balance, prior to liquidation of DEF & Associates. All balances are normal.

Assets: Cash $12,000; Accounts receivable $34,000; Equipment $90,000; Accumulated Depreciation $40,000.
Liabilities and equity: Accounts payable $56,000; Doug's Capital $12,000; Ellen's Capital $10,000; Frank's Capital $18,000.

Partners share gains and losses in a 3:2:3 ratio for Doug, Ellen, and Frank, respectively. Noncash assets were sold for $60,000. Ellens share of the gain or loss would be a

loss of $6,000.

gain of $4,800.

gain of $6,000.

loss of $4,800.