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Scroll down to complete all parts of this task. GFH Decorators, a partnership,...

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Accounting

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GFH Decorators, a partnership, had the income and expenses shown in the spreadsheet below for the current tax year. Identify whether each item is an "Ordinary Business Income" item (reported on Page 1, Form 1065), a "Separately Stated Item" (reported on Schedule K, Form 1065), or both.
Enter the value of ordinary income items in column C and the value of separately stated items in column D.
Note that not all the cells in either column C or D will have values. If a response is zero, leave the cell blank.
Use a minus sign to enter negative values.
1n
\table[[1,,\table[[Business],[Income]],\table[[Separately],[Stated ltems]],],[2,Fee revenue,$600,000,,],[3,Dividend income,$2,000,123,],[4,Capital gain distributions,$10,000,123,123],[5,Charitable contributions (cash),($500),123,123],[6,Salaries to employees,($150,000),123,],[7,Partner guaranteed payments,($75,000),123,123],[8,\table[[MACRS depreciation on office],[furniture]],($3,000),123,123],[9,Total ordinary business income,,$0,]]
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