QUESTION 1 Amelia received $10,000 Cash and inventory with an Adjusted Basis and Fair Market Value of $6,000 in Complete Liquidation of her Partnership Interest. Her basis in her Partnership Interest was $20,000 prior to the distribution. How much Gain or Loss does Amelia recognize from this distribution? $10,000 Loss O$4,000 Loss No Recognized Gain or Loss. O $4,000 Gain. QUESTION 2 The Balance Sheet of the equal Delana Partnership on August 31, 2021 is as follows: Cash (Adjusted Basis $240,000; Fair Market Value-$240,000); Unrealized Receivables (Adjusted Basis-5-0- Fair Market Value - $120,000): Capital Assets (Adjusted Basis- $330,000; Fair Market Value - $510,000) (Total Assets: (Adjusted Basis $570,000; Fair Market Value $870,000); Notes Payable (Adjusted Basis- $180,000; Fair Market Value -$180,000) Capital Accounts: Rochelle Capital (Adjusted Basis- $130,000; Fair Market Value - $230,000); Kendra Capital (Adjusted Basis-$130,000; Fair Market Value $230,000); Toya Capital (Adjusted Basis- $130,000; Fair Market Value - $230,000) (Total Liabilities And Equity (Capital) (Adjusted Basis-$570,000; Fair Market Value - $870,000). The Partnership makes a Liquidating Distribution to Rochelle of Cash of $20,000, Unrealized Receivables of $40,000 and Capital Assets worth (Fair Market Value) $170,000. The remaining Partners assume Rochelle's share of the Partnership Liabilities. Rochelle's ending basis in her Partnership Interest is: O $130,000. O $ 40,000. $ 60,000. -0- 3pm