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Lydia and Ellen own the LE Partnership. Lydia takes care of daily operations and receives a guaranteed payment for her efforts. What amount and character

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Lydia and Ellen own the LE Partnership. Lydia takes care of daily operations and receives a guaranteed payment for her efforts. What amount and character of income will each partner report in each of the following independent situations? a. The LE Partnership has no ordinary income and reports a $10!], short-term capital gain. Lydia receives a 3540,0130 guaranteed payment plus a 40% distributive share of all partnership income after deducting the guaranteed payment. h. The LE Partnership reports 3516:0300 of ordinary income before considering any guaranteed payrnenL Ellen receives 50% of partnership income but no less than $ll,{l[l

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