Income Statement for year ending December 31, 2020:

Sales	965,500
Sales Returns & Allowances	(9,700)
Cost of Goods Sold	(538,200)
= Gross Profits from Operations	417,600
Other Income:
Interest from Money Market Account	3,200
Gain from Sale of Photograph (LTCG)	34,000
= Gross Income	454,800
Expenses:
Employee Wages	95400
Interest on Accounts Payable	2,700
Payroll & Property Taxes	10,800
Supplies	4,300
Rent for Retail Building	18,500
Depreciation on Furniture & Fixtures	4,550
Advertising	8,300
Guaranteed Payments	35,000
Utilities	6,400
Accounting & Legal Services	4,400
Business Meals	2,240
Cash Charitable Contributions	3,300
Miscellaneous Expenses	5,750
= Total Expenses	(201,640)
Net Income for Books	253,160

Notes:

1. Aspen Ridge has total assets of $1,725,800 and total liabilities of $540,300 at the beginning of the year, and total assets of $2,065,300 and total liabilities of $806,640 at the end of the year.

2. Partnership liabilities consist of accounts payable, and Mark, as general partner, is legally responsible for paying these liabilities if the partnership does not.

3. Two years ago, Aspen Ridge purchased an original Ansel Adams outdoor landscape photograph with the intent to display it permanently in the retail store. This year, however, the photograph was sold to a local ski lodge where it now hangs on the wall. The $34,000 recognized gain from the sale is reflected in the income statement above. Note the book gain is equal to the tax gain. Assume this is a LTCG but no Sch D or 8949 is required for purposes of this project)

4. For tax purposes, Aspen Ridge has consistently elected out of bonus depreciation and has elected instead under 179 to expense any furniture or fixtures placed in service every year since it was formed. As a result, it does not have a tax basis in any of its depreciable assets. This year, Aspen Ridge expensed $17,300 of signs and display cases for tax purposes. Note Sec 179 must be separately stated for partnership purposes.

5. On November 20, Aspen Ridge distributed $180,000 ($60,000 per partner) to the partners.

6. Miscellaneous expenses reported on the income statement include a $900 fine for violating a local signage ordinance.

7. All three partners capital accounts each had an opening balance of $395,166.66.

8. Assume the meals were NOT provided by a restaurant.

9. Assume that Aspen Ridge did not make any payments that would require it to file Form(s) 1099.

10. For purposes of the Qualified Business Income Deduction (199A), the unadjusted basis of qualified property immediately after acquisition (UBIA) is $1,240,800.

Question I need help with:

I need to create a book to tax reconciliation sheet to calculate Ordinary Income. I know that the final answer for Ordinary Income is $225,830. I'm confident in what I've added so far, but not certain.

Book to Tax Reconciliation Workpaper Company Name: Aspen Ridge LP Year End: December 31, 2020 CURRENT YEAR PRIOR YEAR W/P Ref. 253,160 Income per Book +/-)Federal Income Tax Expense (Refund) PERMANENT DIFFERENCES + Officer's Life Insurance Expense + Non-Deductible Penalties & Fines + Nondeductible Meals & Entertainment Expense Tax Exempt Interest +/- Other: 900 1,120 2,020 TEMPORARY DIFFERENCES + Book Depreciation Tax Depreciation +/- Completed contract over % completion for book +/- Completed contract over % completion for tax % - (+) Book Gain/(Loss) on Sale of FIAS +/(-) Tax Gain/(Loss) on Sale of F/As (-)/+ Accrued Expenses Due 50% or More Shareholders and Related Parties (Prior) Salaries and Bonuses Current Uniform Capitalization Prior Year + Uniform Capitalization Current Year Sec. 481(A) Adjustments: +- Change in Accounting Method + Bad Debt Expense - Book Bad Debt Expense - Tax + Vacation pay accrual (unpaid at 2.5 months) - Prior year accrued vacation paid in current year +- Other: +Guaranteed Payments + 35,000 35,000 TAXABLE INCOME (Before pass-through items) 290,180 SCH. K PASS-THROUGH ITEMS (Loss or Deduction (+); Income or Gain (-)): - (+) Rental Income (Loss) - Portfolio Income (Interest and Dividends) -I(+) Capital Gains/(Losses) -I(+) 1231 Gains/(Losses) + Section 179 Expense Election 17,300 + + Charitable Contributions 3,300 Guaranteed Payments (35,000) +/- Other: (14,400) ORDINARY INCOME per Page 1 275,780 Goal: 225,830 Book to Tax Reconciliation Workpaper Company Name: Aspen Ridge LP Year End: December 31, 2020 CURRENT YEAR PRIOR YEAR W/P Ref. 253,160 Income per Book +/-)Federal Income Tax Expense (Refund) PERMANENT DIFFERENCES + Officer's Life Insurance Expense + Non-Deductible Penalties & Fines + Nondeductible Meals & Entertainment Expense Tax Exempt Interest +/- Other: 900 1,120 2,020 TEMPORARY DIFFERENCES + Book Depreciation Tax Depreciation +/- Completed contract over % completion for book +/- Completed contract over % completion for tax % - (+) Book Gain/(Loss) on Sale of FIAS +/(-) Tax Gain/(Loss) on Sale of F/As (-)/+ Accrued Expenses Due 50% or More Shareholders and Related Parties (Prior) Salaries and Bonuses Current Uniform Capitalization Prior Year + Uniform Capitalization Current Year Sec. 481(A) Adjustments: +- Change in Accounting Method + Bad Debt Expense - Book Bad Debt Expense - Tax + Vacation pay accrual (unpaid at 2.5 months) - Prior year accrued vacation paid in current year +- Other: +Guaranteed Payments + 35,000 35,000 TAXABLE INCOME (Before pass-through items) 290,180 SCH. K PASS-THROUGH ITEMS (Loss or Deduction (+); Income or Gain (-)): - (+) Rental Income (Loss) - Portfolio Income (Interest and Dividends) -I(+) Capital Gains/(Losses) -I(+) 1231 Gains/(Losses) + Section 179 Expense Election 17,300 + + Charitable Contributions 3,300 Guaranteed Payments (35,000) +/- Other: (14,400) ORDINARY INCOME per Page 1 275,780 Goal: 225,830