Please explain and show work. Highlight the final answer, thank you in advance :)

5. Karli owns a 25% capital and profits interest in the calendar-year KJDV Partnership. Her adjusted basis for her partnership interest on July 1 of the current year is $200,000. On that date, she receives a proportionate current (non-liquidating) distribution of the following assets. Cash Inventory Land (held for investiment) Partnership's Basis $150,000 30,000 70,000 FMV $150,000 60,000 100,000 a. Calculate Karli's recognized gain or loss on the distribution, if any. b. Calculate Karli's basis in the inventory received