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$!$ Complete this question by entering your answers in the tabs below.

Required A$1$

Required A$2$

Compute Gary's share of separately stated items to be reported on his year $1$ Schedule K$-1,$ including his self$-$employment

income $($loss$).$

Note: Round your intermediate computations and final answers to the nearest whole dollar amount. a$-1.$ How much ordinary income $($loss$)$ is allocated to Gary for the year?

a$-2.$ Compute Gary's share of separately stated items to be reported on his year $1$ Schedule K$-1,$ including his self$-$employment income

$($loss$).$

Complete this question by entering your answers in the tabs below.

Required $A1$

Required A$2$

How much ordinary income $($loss$)$ is allocated to Gary for the year?

Note: Round your intermediate computations to the nearest whole dollar amount.

Required information

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

The partnership agreement of the G&P general partnership states that Gary will receive a guaranteed payment of $$15,800,$

and that Gary and Prudence will share the remaining profits or losses in a $\frac{45}{55}$ ratio. For year $1,$ the G&P partnership

reports the following results:

Note: Negative amounts should be indicated by a minus sign.

Required:

a$-1.$ How much ordinary income $($loss$)$ is allocated to Gary for the year?

a$-2.$ Compute Gary's share of separately stated items to be reported on his year $1$ Schedule K$-1,$ including his self$-$employment income

$($loss$).$

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