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KLMN Partnerships financial records show the following: Gross receipts from sales Cost of goods sold Operating expenses Business meals Section 1231 loss on equipment sale

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KLMN Partnerships financial records show the following: Gross receipts from sales Cost of goods sold Operating expenses Business meals Section 1231 loss on equipment sale Charitable contribution Distributions to partners $ 670,000 (460,000) (96, 800) (6,240) (13,500) (1,500) (10,000) Required: Compute KLMN's ordinary business income for the year. (Negative amounts should be indicated by a minus sign.) Amount KLMN's ordinary business income

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