Line Tollowing information apples to the questions aispiaea below.) The partnership agreement of the G&P general partnership states that Gary will receive a guaranteed payment of $15,000, and that Gary and Prudence will share the remaining profits or losses in a 45/55 ratio. For year 1, the G&P partnership reports the following results: Sales revenue Gain on sale of land ($1231) Cost of goods sold Depreciation-MACRS Employee wages Cash charitable contributions Municipal bond interest Other expenses $ 82,700 7,700 (39,200) (12,500) (15,200) (3,200) 3,750 (5,300) Note: Negative amounts should be indicated by a minus sign. Problem 20-61 Part a (Algo) Required: a-1. How much ordinary income (loss) is allocated to Gary for the year? -2. Compute Gary's share of separately stated items to be reported on his year 1 Schedule K-1, including his self-employment income (loss). Complete this question by entering your answers in the tabs below. Required A1 Required A2 Compute Gary's share of separately stated items to be reported on his year 1 Schedule K-1, including his self-employment Income (loss). Note: Round your intermediate computations and final answers to the nearest whole dollar amount. Description Total Amount Allocated to Gary Separately Stated Items on Schedule K-1: $1231 gains 7,700 Cash charitable contributions Guaranteed payment Municipal bond interest $ 3,750 Self-employment income