i just need help with the one that have the red x by it

Carrie D'Lake, Reed A Green, and Doug A Divot share a passion for golf and decide to go into the golf club manufacturing business together. On January 2, 2021. D'Lake, Green, and Divot form the Slicenhook Partnership, a general partnership Slicenhook's main product will be a perimeter-weighted titanium driver with a patented graphite shaft. All three partners plan to actively participate in the business. The partners contribute the following property to form Slicenhook Partner Carrie D'Lake Contribution Land, FMV Basis $460,000, Mortgage Cash Cash $ 460,000 $ 60,000 $ 400,000 $400,000 Reed A. Green Doug A. Divot Carrie had recently acquired the land with the idea that she would contribute it to the newly formed partnership. The partners agree to share in profits and losses equally Slicenhook elects a calendar year-end and the accrual method of accounting In addition, Slicenhook received a $1,500,000 recourse loan from Big Bank at the time the contributions were made Slicenhook uses the proceeds from the loan and the cash contributions to build a state-of-the-art manufacturing facility ($1,200,000). purchase equipment ($600,000), and produce Inventory ($400,000). With the remaining cash. Slicenhook invests $45,000 in the stock of a privately owned graphite research company and retains $55.000 as working cash Slicenhook operates on a just-in-time inventory system so it sells all inventory and collects all sales immediately. That means that at the end of the year, Slicenhook does not carry any inventory or accounts receivable balances. During 2021 Slicenhook has the following operating results. Sales $ 1,126,00 Cost of goods sold 400,000 Interest income from tax-exempt bonds 900 Qualified dividend income from stock 1,500 Operating expenses 126,800 Depreciation (tax) 5179 on equipment $ 39,08 Equipment 81,600 Building 24,000 144,000 Interest expense on debt 120,000 The partnership is very successful in its first year. The success allows Slicenhook to use excess cash from operations to purchase $15,000 of tax-exempt bonds (you can see the interest income already reflected in the operating results) The partnership also makes a principal payment on its loan from Big Bank in the amount of $300.000 and a distribution of $100,000 to each of the partners on December 31, 2021 The partnership continues its success in 2022 with the following operating results. Sales $ 1,200, cee Cost of goods sold 420,000 Interest income from tax-exempt bonds 900 Qualified dividend income from stock 1,500 Operating expenses 132,000 Depreciation (tax) Equipment $ 147,600 Building 30,000 177,800 Interest expense on debt 96,000 The operating expenses include a $1.800 trucking fine that one of its drivers incurred for reckless driving and speeding and meals expense of $6,000 (the meals were not provided by a restaurant) By the end of 2022. Reed has had a falling out with Carrie and Doug and has decided to leave the partnership. He has located a potential buyer for his partnership interest . Indie Ruff. Indie has agreed to purchase Reed's interest in Slicenhook for $730,000 in cash and the assumption of Reed's share of Slicenhook's debt Carrie and Doug, however, are not certain that admitting Indie to the partnership is such a good idea. They want to consider having Slicenhook liquidate Reed's interest on January 1, 2023. As of January 1, 2023. Slicenhook has the following assets. Tax Basis FMV $ 876,800 $ 876,800 15,000 Investment stock 45,000 45, eee Equipment-net of depreciation 333,880 600,000 Building-net of depreciation 1,146,000 1,440,000 460,000 Total $12,875,800 $3,489,800 Carrie and Doug propose that Slicenhook distribute the following to Reed in complete liquidation of his partnership Cash Investment-tax exempts 18,000 Land 510,000 interest Cash Investment stock Equipment-5200,000 cost, net of depreciation Total Tax Basis $ 485,000 45,000 111,000 $ 661,800 FMV $ 485,000 45,000 200,000 $ 230, eee Slicenhook has not purchased or sold any equipment since its original purchase just after formation d. Using the operating results, what are Slicenhook's ordinary income and separately stated Items for 2021 and 2022? What amount of Slicenhook's income for each period would each of the partners receive? (Round your intermediate calculatiohs and final answers to Each Partner's share Slicenhook Total 2021 2022 2021 2022 >>> S 1,126,000 (400,000) (126,000) (105,000) (120,000) 375,000 $ 1,200,000 (420,000) (124, 200) (177,000) (96,000) 382,800 125,000 127 600 Ordinary Income Sales Cost of goods sold Operating expenses Depreciation Interest expense Total ordinary income Separately Stated Items Qualified dividends Tax-exempt interest $179 expense Fines and penalties Non-deductible Meals Net Earnings from Self-Employment Distributions 500 1,500 900 (39,000) 1,500 900 500 300 (13,000) 300 (1.800) (3,000) (3,000) (600) (1,000) (1,000)