I cannot compute the self-employment for total amount. Not sure what I am not doing right.

Chapter 20, Problem 60PS

The partnership agreement of the G&P general partnership states that Gary will receive a guaranteed payment of $13,000, and that Gary and Prudence will share the remaining profits or losses in a 45/55 ratio. For year 1, the G&P partnership reports the following results:

Sales revenue	$	70,000
Gain on sale of land (1231)	$	8,000
Cost of goods sold	$	(38,000	)
DepreciationMACRS	$	(9,000	)
Employee wages	$	(14,000	)
Cash charitable contributions	$	(3,000	)
Municipal bond interest	$	2,000
Other expenses	$	(2,000	)

A1. How much ordinary income (loss) is allocated to Gary for the year? 2,700

A2. Compute Gary's share of separately stated items to be reported on his year 1 Schedule K-1, including his self-employment income (loss).

Separately Stated Items on K-1 | Total Amount | Allocated to Gary

Guaranteed Payment: 13,000 | 13,000

Municipal Bond Interest: 2,000 | 900

Section 1231 Gain: 8,000 | 3,600

Self-Employment Income: ? | 12,550

Cash Charitable Contribution: (3,000) | (1,350)