Exercise 11-18 (Algorithmic) (LO. 2, 8) Sweeney originally contributed $194,000 in cash for a one-fourth interest in the Gilbert LLC. During the several years that Sweeney was a member of the LLC, his share of the LLC's income was $116,400 and he withdrew $77,600 cash. The LLC's liabilities are $97,000, of which Sweeney's share is $24,250. The LLC has $48,500 of hot assets, of which Sweeney's share is $12,125. Sweeney sells his LLC interest to Jana for $256,080 cash, with Jana also assuming Sweeney's share of the LLC's liabilities. How much is Sweeney's gain on the sale, and what is its character? Sweeney's total gain on the sale is $ remaining $ 149,380 X, of which s 24,250 X recognized as a long-term capital gain. 12,125 recognized as ordinary income, with the How much is Jana's adjusted basis for her LLC interest? 280,330