On January 1 of the current year, Mr. Clair and Mr. Hope established operations of their partnership Smuckers Technologies, a manufacturer of inventory software.Both partners actively participate equally.Smuckers' income statement for the current calendar year is presented in the lesson.

Using the data provided, list the appropriate values as they would appear on page 1 of a partnership tax return.

Partnership Tax Return Information

1.Gross Receipt of Sales

2.Interest income

3.Cost of goods sold

4.Gross profit

5.Salaries and wages (other than partners)

6.Guaranteed payments

7.Depreciation

8.Retirement payments

9.Charitable contributions

10. Ordinary business income (loss)