$!$

Required information

Problem $21-55($LO $21-1,$ LO $21-6)($Algo$)$

$[$The following information applies to the questions displayed below.$]$

Fatima pays $$206,000$ cash for Brittany's one$-$third interest in the Westlake Partnership. Just prior to the sale, Brittany's basis in Westlake is $$98,900.$ Westlake reports the following balance sheet:

$\backslash$table$[[,$Tax Basis,FMV$],[$Assets$,$$$98,900,$$$98,900$