Liquidating Partnerships

Prior to liquidating their partnership, Todd and Ericson had capital accounts of $$73,000$

and $$119,000,$ 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 $$218,000.$ The partnership had $$10,000$ of liabilities. Todd and Ericson share

income and losses equally.

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

partnership.

$