Guaranteed Payments: Allen and Bob are equal partners in the AB Partnership. Bob manages the business and receives a guaranteed payment. What amount and character of income will Allen and Bob report in each of the following independent situations?

A) The AB partnership earns 160,000 of ordinary income before considering Bob's guaranteed payment. Bob is guaranteed a 90,000 payment plus 50% of all income remaining after the guaranteed payment

B) Assume the same facts as Part A except Bob's distributive share is 50% with a guaranteed minimum of 90,000

C) The AB partnership earns a 140,000 long term capital gain and no ordinary income. Bob is guaranteed 80,000 plus 50% of all amounts remaining after the guaranteed payment.