Information for Questions 1-2: Jim is a 20% general partner in Partnership XYZ. For the current year, Partnership XYZ reputed the following items: Ordinary income (total) $500,000 Short-term capital gain (total) 40,000 Guaranteed payment to Jim 25,000 Distribution to Jim 10,000 1. Jim's adjusted gross income on his individual tax return for the current vear is: a. $143,000 b. $133,000 C. $118,000. d. $108,000 e. none of the above. 2. Jim's self-employment income (subject to the self-employment tax) on his individual tax retum for the current year a. $0. b. $100,000 C. $125,000. d. $135,000. e. none of the above. $ 3. For the current year, Partnership AB reported the follow Income from sales Long-term capital gain Guaranteed payment to partner for services Interest income Business operating expenses 60,000 3,000 200,000 Partnership AB's nonseparately stated ordinary income (loss) for the current year a $103,000 b. $100,000 C. $43,000. d. $40,000 e. none of the above. 4. Ben is a 50% partner in the BC partnership. BC uses a September 30th fiscal year-end. The partnership reported ordinary income of $200,000 for 2019 and $140,000 for 2020. Ben will report ordinary income for his tax year ending December 31, 2019 a $100,000 b. $92,500. C. $85,000 d. $70,000. e. None of the above