What is the amount of net income (loss) from the Analysis of Net Income (Loss)?

Question 4

Select one: a. $39,465 b. $38,212 c. $17,932 d. $20,280

Scenario 2 - Sunlee Partnership Complete Sunlee's Schedule K and Analysis of Net Income (Loss). When Sunlee Partnership completed page 1 of Form 1065, it showed gross receipts of $38,212, investment interest income of $481, and Schedule D of Form 1065 long-term capital gains of $872. Sunlee paid $20,280 in guaranteed payments to the partners for services, which was deducted on line 10 of Form 1065. In addition, Sunlee made $100 of charitable contributions. All the partners are individual (active), general partners of a manufacturing company. The gross nonfarm income is considered to be self-employment income. Sunlee's EIN is 54-7598621.