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Faye, Gary, and Heidi each have a one-third interest in the capital and profits of the FGH Partnership. Each partner had a capital account of

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Faye, Gary, and Heidi each have a one-third interest in the capital and profits of the FGH Partnership. Each partner had a capital account of $87,500 at the beginning of the tax year. The partnership profits for the tax year were $1,002,900. Changes in their capital accounts during the tax year were as follows: Faye Gary Heidi Total Beginning balance $87,500 $87,500 (35,000) $262,500 (65,000) withdrawals (20,000) $87,500 (10,000) 5,000 334,300 0 0 5,000 Additional contributions 334,300 334,300 Allocation of profits 1,002,900 $1,205,400 $401,800 $386,800 $416,800 Ending balance Compute each partner's gross income from the partnership for the tax year. Each partner's gross income from the partnership for the tax year is s

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