Hires, and Bellman are partners, sharing gains and losses equally. At the time they decide to terminate their partnership, their capital balances are $5,000 and $20,000 respectively. After all noncash assets are sold and all liabilities are paid there is a cash balance of $20,000.

What is the amount of a gain or loss on realization?

How should the gain or loss be divided between hires and Bellman?

How should the cash be divided between Hires and Bellman?