Liquidating Partnerships

Prior to liquidating their partnership, Ellis and Ericson had capital accounts of $61,000 and $92,000, 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 $171,000. The partnership had $5,000 of liabilities. Ellis and Ericson share income and losses equally.

Determine the amount received by Ericson as a final distribution from liquidation of the partnersh