LO2 Andy, Azim, and Ashwin operate the Triple-A Steak House, a popular restaurant and bar. The three, who have been friends since childhood, are equal partners in the establishment. For the year, Triple-A reports the following:

How must the Triple-A Steak House report its results to each partner for tax purposes?

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Sales revenues Short-term capital gains Short-term capital losses Business expenses Investment expenses Taxable income $800,000 24,000 (12,000) (560,000) (6,000) $ 246,000