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Jayanthi and Krish each own a 50 percent general partner interest in the JK Partnership. The following information is available regarding the partnerships 2016 activities:

Jayanthi and Krish each own a 50 percent general partner interest in the JK Partnership. The following information is available regarding the partnerships 2016 activities:

Sales revenue $ 500,000
Selling expenses 200,000
Depreciation expense 30,000
Long-term capital gain 9,000
Nondeductible expenses 2,000
Partnership debts, beginning of the year 100,000
Partnership debts, end of the year 120,000
Partnership distributions
Jayanthi 50,000
Krish 50,000

a. Complete Schedule K, Form 1065, for the partnership.

b. Complete Schedule K-1, Form 1065, for Jayanthi.

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