Georgio owns a 20 percent profits and capital interest in Rain Tree LLC. For the current year, Rain Tree had the following revenues, expenses, gains, and losses: Sales revenue $ 70,000 Gain on sale of land ($1231) 11,000 Cost of goods sold (26,000) Depreciation-MACRS (3,000) $179 deduction* (10,000) Employee wages (11,000) Nondeductible fines and penalties (3,000) Municipal bond interest 6,000 Short-term capital gains 4,000 Guaranteed payment to Sandra (3,000) *Assume the $179 property placed in service limitation does not apply. a. How much ordinary business income (loss) is allocated to Georgio for the year? Description Total Amount Allocated to Georgio Sales revenue Ordinary Business Income a. How much ordinary business income (loss) is allocated to Georgio for the year? Description Total Amount Allocated to Georgio Sales revenue $1231 gains $179 deduction Cost of goods sold Depreciation-MACRS