Mitchell and Cam, with a 40/60 profit and loss ratio (40% Mitchell and 60% Cam), form the Modern Family Partnership. During the year, Modern Family had the following revenue, expenses, gains, losses, and distributions:

TUUN!!! 1. Mitchell and Cam, with a 40/60 profit and and Cam, with a 40/60 profit and loss ratio (40% Mitchell and 60% Cam), form the Modern Family Partnership. During the year, Modern Family had the following revenue, expenses, gains, losses, and Partnership distributions: Cost of Goods Sold Cash Distribution to Cam Municipal Bond Interest Short-Term Capital Gains Employee Wages Rent Charitable Contributions Sales Repairs and Maintenance Long-Term Capital Gains Fines and Penalties Guaranteed Payment to Mitchell eneses sin innsininen 90,000 20,000 2,000 4,000 45,000 9,000 20,000 190,000 8,000 10,000 6,000 18,000 D o blog Given these items, what amount of ordinary business income (loss) and what separately-stated items should be allocated to each partner for the year? Show calculations 10 pts