The JKL Partnership has three equal partners, Jingjing, Kevin, and Latisha. Latisha sells her interest to Larry for $690,000. The partnership does not have a Sec. 754 election in effect. Just before the sale of Latisha's interest, the partnership's balance sheet appears as follows: (Click the icon to view the data.) Read the requirements. Requirement a. What is Latisha's recognized net loss on the sale, and what is the character of its components? Begin by calculating Latisha's recognized net loss on the sale. (Enter a loss with a minus sign or parentheses.) Data table Requirements a. What is Latisha's recognized net loss on the sale, and what is the character of its components? b. What is Larry's mandatory basis adjustment