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The ABCD partnership agreement provides that A will receive 25% of ordinary income before taking...

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Accounting

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The ABCD partnership agreement provides that A will receive 25% of ordinary income before taking into account any guaranteed payment, but not less than $200,000. All capital gains will be split equally among the partners. For the year the partnership has $400,000 of ordinary income (before the guaranteed payment) and $160,000 of long-term capital gains. a. How much is A's guaranteed payment? How much is her share of ordinary income? b. How much is her share of long-term capital gains? c. How much, in total, of the ordinary income and long-term capital gain will the other partners be allocated

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