On January 11 of the current year, Birchfield and Torcoletti form the BT LLC. Their contributions to the LLC are as follows.

Adjusted Basis Fair Market Value

From Birchfield:

Cash $112,000 $112,000

Accounts receivable $0 $69,000

Inventory $205,000 $215,000

From Torcoletti:

Cash $396,000 $396,000

By January 31, BT collects the receivables and sells the inventory for $215,000 cash

BT realized the following income in the current year from these transactions: a. Ordinary income of $__________- from collecting cash basis accounts receivable. b. Ordinary income of $__________- from sale of inventory

b. Ordinary income of $ ______from sale of inventory.