Lea and Masa formed the L&M Partnership as equal partners. Lea contributed $8,000 cash and Masa contributed property with a value of $1,000 for partnership operations. At the end of their first year of operations, they had the following results: Requirements a. What is the net income, excluding separately stated items, that each partner is required to report at the end of the year? b. How much does each of the partners reports on her tax returns from the separately stated items? c. What is each partner's basis at the end of the year? d. How would the basis of each partner change if the partnership made distributions of $1,000 to each partner this year