The TimpRiders LP has operated a motorcycle dealership for a number of years. Amir is the limited partner, Francesca is the general partner, and they share capital and profits equally. Francesca works full time managing the partnership. Both the partnership and the partners report on a calendar$-$year basis. At the start of the current year, Amir and Francesca had bases of $$11,400$ and $$4,600,$ respectively, and the partnership did not have any liabilities. During the current year, the partnership reported the following results from operations:

Net sales $ $699,000$

Cost of goods sold $520,000$

Operating expenses $192,000$

Short$-$term capital loss $1,800$

Tax$-$exempt interest $3,600$

$1231$ gain $7,600$

On the last day of the year, the partnership distributed $$4,600$ each to Amir and Francesca.