Bravo Partnership (the Partnership) was established on January 1, 2022, when David, Barry, Kyle, and Charles each contributed $10,000 to the Partnership in exchange for a 25 percent interest, each, in the Partnerships capital, profits, and losses The Partnership is located in and operates exclusively in Virginia The Partnerships trial balance, as of and for the year ended December 31, 2022, is shown below DEBIT CREDIT CASH 25,000 00 INVESTMENTS 50,000 00 ACCOUNTS RECEIVABLE 200,000 00 ALLOWANCE FOR DOUBTFUL ACCOUNTS 15,000 00 INVENTORY 150,000 00 PROPERTY AND EQUIPMENT 1,250,000 00 ACCUMULATED DEPRECIATION 125,000 00 ACCOUNTS PAYABLE 100,000 00 ACCRUED EXPENSES 10,000 00 NOTE PAYABLE BANK 1,500,000 00 DAVE CAPITAL 10,000 00 BARRY CAPITAL 10,000 00 KYLE CAPITAL 10,000 00 CHARLES CAPITAL 10,000 00 REVENUE 952,000 00 INTEREST INCOME 1,000 00 DIVIDENDS (QUALIFIED) 2,000 00 COST OF REVENUES 540,000 00 DEPRECIATION 125,000 00 FINES AND PENALTIES 5,000 00 SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES 400,000 00 2,745,000 00 2,745,000 00 The Partnership maintains its books and records and prepares its financial statements on the basis of US GAAP In computing the Partnerships tax depreciation for 2022, the Partnership took Section 179 of $1,080,000 depreciation on its $1,250,000 of acquisitions during the year The remaining acquisitions were depreciated on the DDB method over 10 years So, total tax depreciation for 2022 was $1,114,000 No accounts were written off during 2022 and there were not any recoveries during 2022 The Partnership established its $15,000 allowance based on 7 5 of accounts receivable This expense is included in the Partnerships Selling, General, and administrative expenses During 2022, the Partnership paid a $5,000 fine to OSHA All of the Partnerships partners are residents of Virginia and all are active general partners Each partner received $75,000 guaranteed payments for services during 2022 These payments are included in the Partnerships Selling, General, and administrative expenses Note that these payments are self employment earnings Complete Schedule K, Analysis of Net Income (Loss) per Return, Schedule L, and Schedule M 2 of federal form 1065 (2022 version) Please show all of the calculations

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Bravo Partnership (the Partnership) was established on January 1, 2022, when David, Barry, Kyle, and Charles each contributed $10,000 to the Partnership in exchange for

Bravo Partnership (the Partnership) was established on January 1, 2022, when David, Barry, Kyle, and Charles each contributed $10,000 to the Partnership in exchange for a 25 percent interest, each, in the Partnerships capital, profits, and losses. The Partnership is located in and operates exclusively in Virginia. The Partnerships trial balance, as of and for the year ended December 31, 2022, is shown below.

	DEBIT	CREDIT

CASH	25,000.00
INVESTMENTS	50,000.00
ACCOUNTS RECEIVABLE	200,000.00
ALLOWANCE FOR DOUBTFUL ACCOUNTS		15,000.00
INVENTORY	150,000.00
PROPERTY AND EQUIPMENT	1,250,000.00
ACCUMULATED DEPRECIATION		125,000.00
ACCOUNTS PAYABLE		100,000.00
ACCRUED EXPENSES		10,000.00
NOTE PAYABLE BANK		1,500,000.00
DAVE CAPITAL		10,000.00
BARRY CAPITAL		10,000.00
KYLE CAPITAL		10,000.00
CHARLES CAPITAL		10,000.00
REVENUE		952,000.00
INTEREST INCOME		1,000.00
DIVIDENDS (QUALIFIED)		2,000.00
COST OF REVENUES	540,000.00
DEPRECIATION	125,000.00
FINES AND PENALTIES	5,000.00
SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES	400,000.00
	2,745,000.00	2,745,000.00

The Partnership maintains its books and records and prepares its financial statements on the basis of US GAAP.
In computing the Partnerships tax depreciation for 2022, the Partnership took Section 179 of $1,080,000 depreciation on its $1,250,000 of acquisitions during the year. The remaining acquisitions were depreciated on the DDB method over 10 years. So, total tax depreciation for 2022 was $1,114,000.
No accounts were written off during 2022 and there were not any recoveries during 2022. The Partnership established its $15,000 allowance based on 7.5% of accounts receivable. This expense is included in the Partnerships Selling, General, and administrative expenses.
During 2022, the Partnership paid a $5,000 fine to OSHA.
All of the Partnerships partners are residents of Virginia and all are active general partners.
Each partner received $75,000 guaranteed payments for services during 2022. These payments are included in the Partnerships Selling, General, and administrative expenses. Note that these payments are self-employment earnings.

Complete Schedule K, Analysis of Net Income (Loss) per Return, Schedule L, and Schedule M-2 of federal form 1065 (2022 version). Please show all of the calculations.