In the current year, the KEA Partnership received revenues of $$400,000$ and paid the following amounts: $$160,000$ in rent, utilities, and salaries$$ a $$40,000$ guaranteed payment to partner Kylie$$ $$20,000$ to partner Alethea for consulting services$$ and a $$40,000$ distribution to $25\%$ partner Emily. In addition, the partnership realized a $$12,000$ net long$-$ term capital gain. Emily$$s basis in her partnership interest was $$60,000$ at the beginning of the year and included his $$25,000$ share of partnership liabilities. At the end of the year, her share of partnership liabilities was $$15,000.$

a$.$ How much income must Emily report for the tax year?

b$.$ What is Emily$$s basis in the partnership interest at the end of the year?