The HMS Partnership,a Cash Method of Accounting Entity,has the Following

The HMS Partnership,a cash method of accounting entity,has the following balance sheet at December 31 of last year:
$$\begin{array} { | c | c | c | } \hline \text { Assets } & \text { Basis } & \text { Fair Market Value } \\\hline \text { Cash } & \$ 51,000 & \$ 51,000 \\\text { Accounts receivable } & \underline { 0 } & \underline { 210,000 } \\\text { Total } & \underline { \$ 51,000 } & \underline { \$ 261,000 } \\\hline\end{array}$$ $$\begin{array} { | l | c | c | } \hline { \text { Equities } } & \text { Basis } & \text { Fair Market Value } \\\hline \text { Notes payable } & \$ 30,000 & \$ 30,000 \\\text { Henry, capital } & 7,000 & 77,000 \\\text { Mark, capital } & 7,000 & 77,000 \\\text { Sam, capital } & \underline { 7,000 } & \underline { 77,000 } \\\text { Total } & \underline { \$ 51,000 } & \$ 261,000 \\\hline\end{array}$$ Sam,who has a one-third interest in profits,losses,and liabilities,sells his partnership interest to Beverly,for $77,000 cash on January 1 of this year.Sam's basis in his partnership interest (which,of course,includes a share of partnership liabilities)at the time of the sale was $17,000.In addition,Beverly assumes Sam's share of the partnership liabilities.What is the amount and character of the gain that Sam will recognize from this sale?