Compute Gary's share of separately stated items to be reported on his year 1 Schedule K-1, including his self-employment income (loss).

Requlred Information Problem 09.61 (LO 09.4) (Algo) [The following Information applies to the questions displayed below.] The partnership agreement of the G\&P general partnership states that Gary will recelve a guaranteed payment of $15,100, 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: \begin{tabular}{|l|c|c|} \hline \multicolumn{1}{|c|}{ Description } & Total Amount & Allocated to Gary \\ \hline Separately Stated Items on Schedule K-1: & & \\ \hline Sales revenue & & \\ \hline & & \\ \hline \end{tabular}