Check my w The partnership agreement of the G&P general partnership states that Gary will receive a guaranteed payment of $17,400, and that Gary and Prudence will share the remaining profits or losses in a 45/55 ratio For year 1, the G&P partnership reports the following results: Sales revenue Gain on sale of land ($1231) Cost of goods sold Depreciation-MACRS Employee wages Cash charitable contributions Municipal bond interest Other expenses $90.2ee $ 7,300 $(46,700) $(14,500) $(2e, eee) $ (5,6ee) $ 4,500 $ (3,700) (Negative amounts should be indicated by a minus sign.) b. Compute Gary's share of self-employment income (loss) to be reported on his year 1 Schedule K-1, assuming G&P is a limited partnership and Gary is a limited partner. Self-employment income (los) c. What do you believe Gary's share of self-employment income (loss) to be reported on his year 1 Schedule K-1 should be, assuming G&P is an LLC and Gary spends 2,000 hours per year working there full time? Self-employment income (los)