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  3. 8. ima small partnership has the following informa

8. Ima Small Partnership has the following information: income from business operations $800,000; business meals...

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Accounting

8. Ima Small Partnership has the following information: income from business operations $800,000; business meals $1,500; depreciation expense $30,000; guaranteed payments to partners $85,000; rent expense $12,000; charity $48,000; long-term capital gains $2,000; short-term capital losses $5,000; and fines penalties $1,800. Determine Imas net ordinary business income (non-separately stated income). List the separately stated items.

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