KLMN Partnership's financial records show the following: Gross receipts from sales Cost of qoods sold Operating expenses 670,000 (460,000) (96,800) (6,240) (13,500) (1,500) (10,000) Business meals and entertainment Section 1231 loss on equipment sale Charitable contribution Distributions to partners Mr. T is a 10 percent general partner in KLMN. During the year, he received a $1,000 cash distribution from KLMN a. Compute Mr. T's share of partnership ordinary income and separately stated items. b. If Mr. T's adjusted basis in his KLMN interest was year. Assume that KLMN's debt did not change during the year. c. How would your basis computation change if KLMN's debt at the end of the year was $28,000 more than its debt at the beginning of the year? $45,000 at the beginning of the year, compute his adjusted basis at the end of the Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute Mr. T's share of partnership ordinary income and separately stated items. (Negative amounts should be indicated by a minus sign.) Ordinary business income Separately stated items Required B Required A c. How would your basis computation change if KLMN's debt at the end of the year was $28,000 more than its debt at the beginning of the year? Complete this question by entering your answers in the tabs below. Required B Required A Required C If Mr. T's adjusted basis in his KLMN interest was $45,000 at the beginning of the year, compute his adjusted basis at the end of the year. Assume that KLMN's debt did not change during the year. (Negative amounts should be indicated by a minus sign.) Mr. T's adjusted basis at beginning of year Ordinary business income Adjustments: Mr. T's adjusted basis at end of year 0 Required C KRequired A Complete th is question by entering your answers in the tabs below Required C Required A Required B $28,000 more than its debt at the How would your basis computation change if KLMN'S debt at the end of the year was beginning of the year? Required B Required C