7 Part 1 of 2 10 points Required information [The following information applies to the questions displayed below.) Georgio owns a 20 percent profits and capital interest in Rain Tree LLC. For the current year, Rain Tree had the following revenues, expenses, gains, and losses: Sales revenue Gain on sale of land ($1231) Cost of goods sold Depreciation-MACRS $179 deduction Employee wages Nondeductible fines and penalties Municipal bond interest Short-term capital gains Guaranteed payment to Sandra $ 71,500 $ 16,200 $(25,750) $ (3,850) $(11,000) s(20,500) $ (4,300) $ 8,700 $ 6,000 S (3,400) "Assume the $179 property placed in service limitation does not apply. a. How much ordinary business income (loss) is allocated to Georgio for the year? Answer is complete but not entirely correct. Description Sales Revenue Cost of goods sold Depreciation-MACRS Employee wages Guaranteed payments Ordinary Business Income 0000 Total Amount Allocated to Georgio S 71,500 (25,750) (3,850) (20,500) (3,400) $ (53,500) s 10,700