Form 1065 Project You have been engaged to prepare the 2020 partnership return for Prescott Company LLC. The partnership was formed by Diane Jones and Joseph Hill on 11/30/2016 and has a tax year that ends on 11/30. Prescott, which uses the accrual method for tax reporting purposes, operates a restaurant located in the Prescott Building, 200 West lowa Street, Indianapolis, IN 46208. The partnership also rents out some space in the restaurant building to an unrelated party. The partnership's principal business activity code is 722511. The partnership's adjusted trial balance for its year ended 11/30/2021 shows the following: Sales COGS Tax-exempt interest Interest income Dividend income from domestic corporations Nonqualified dividend income from foreign corporations Gain on sale of equipment Depreciation Repairs and maintenance Rent expense Salaries to nonpartners Salaries to partners Income from real estate rentals Expenses from real estate rentals (includes $10,000 of book depreciation) Gain on sale of stock (held