Hay, Straw and Clover formed the ZIP Partnership, agreeing to share profits and losses equally each will receive 1/3 after allocating a guaranteed payment of $30,000 per year to Clover to manage the shop. Information for the year was as follows: Net income from operations (before guaranteed payment to Clover) is $150,000; guaranteed payment to Clover 30,000.

What is Hays share of the partnerships ordinary income and guaranteed payment?

		ordinary income: $40,000; guaranteed payments: 0
		ordinary income: $50,000; guaranteed payments: 0
		ordinary income: $40,000; guaranteed payments: $30,000
		ordinary income: $50,000; guaranteed payments: $30,000