Liquidating Partnerships Prior to liquidating their partnership, Ellis and Ericson had capital accounts of $14,000 and $27,000, respectively. Prior to liquidation, the partnership had no cash assets other than what was realized from the sale of assets. These partnership assets were sold for $49,000. The partnership had $2,000 of liabilities. Ellis and Ericson share income and losses equally. Determine the amount received by Ellis as a final distribution from liquidation of the partnership.