Liquidating Partnerships Prior to liquidating their partnership, Perkins and Montgomery had capital accounts of $56,000 and $108,000, 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 $185,000. The partnership had $7,000 of liabilities. Perkins and Montgomery share income and losses equally.

Determine the amount received by Perkins as a final distribution from liquidation of the partnership.