Rose's interest in the equal RTL Partnership is liquidated by the RTL Partnership in a Liquidating Distribution to Rose and the remaining partners asstume Rose's share of the Partnership Liabilities. Rose receives $8,000 in Cash, Unrealized Recelvables of $15,000 and Equipment worth (Fait Market Value) $21,000. On the date of the sale, the Partnership's Cash Basis Balance Sheet reflected the following:Cash: Adjusted Basis - $36,000; Fair Market Value - $36,000; Unrealized Receivables: Adjusted Basis - 50-; Falr Market Value\$45,000; Equipment: Adjusted Basis - \$48,000; Fair Market Value - \$63,000; Total Assets: Adjusted Basis - \$ 84,000; Fair Market Value \$144,000; Notes Payable: Adjusted Basis - \$ 12,000; Fair Market Value - \$12,000; Capital Accountsi Rose Capital: Adjusted Basis - 524,000 ; Fair Market Value - $44,000; Tina Capital: Adjusted Basis - $24,000; Fair Market Value - $44,000; Lisa Capital: Adjusted Basis - \$24,000; Fair Market Value - $44,000; Total Liabilities And Capital: Adjusted Basis - $84,000; Fair Market Value - $144,000. As a result of this distribution. Rose recognizes: $15,000 Ordinary Income and \$1,000 Capital Gain. No Recognized Gain or Recognized Loss. \$15,000 Ordinary Income and \$1,000 Capital Loss. \$1,000 Ordinary Income and \$15,000 Capital Gain