On May 1, 1989, Brendan McLeod and Duncan Ryan formed Angler Associates, a general partnership, to sell fishing tackle. Pertinent information regarding Angler is summarized as follows:

• The business address is 3027 Woodland Ridge Blvd., Baton Rouge, Louisiana 70816.
• The employer identification number is 75-3392543; the principal business activity code is 451110. The filing center is Memphis, Tennessee
• Brendan and Duncan each own one-half interest of the partnership; they share equally in profits, losses and ownership of capital. Brendan is the designated representative of the partnership. Both work full-time, and each receive a guaranteed payment of $160,000, a regular draw to cover estimated tax payments of $80,321, and a year-end bonus of $44,000. Brendans Social Security number is 145-26-2593. Duncans Social Security number is 287-43-4945.
• The partnership uses the accrual method of accounting and reports on a calendar basis. Inventories are determined by using the lower of cost or market method. For book purposes, the straight-line method of depreciation is used.
• MACRS depreciation was $71,620 for the year.

Selected portions of Anglers profit and loss statement of 2019 reflect the following debits and credits:

Account		Debit	Credit
Gross sales			$2,537,800
Sales returns and allowances		$93,670
Cost of goods sold		1,007,900
Dividends received from stock investments in less than 20% owned U.S. corporations			120,500
Interest income
State bonds		$18,300
Certificates of deposit		15,000	33,300
Premiums on term life insurance policies on the lives of Brendan and Duncan; Angler Corporation is the designated beneficiary		17,200
Salaries-clerical and sales		261,000
Taxes (state, local, and payroll)		39,140
Repairs		19,450
Interest expense		16,030
Fines for dumping toxic waste		8,210
Advertising		6,480
Rental Expense		27,930
Depreciation		47,000

A comparative balance sheet for Angler Associates reveals the following information:

Assets	December 31, 2018	December 31, 2019
Cash	$480,000	$541,288
Trade notes and accounts receivable	808,200	1,060,600
Inventories	600,000	736,000
Certificates of Deposit	130,000	130,000
State bonds	170,000	170,000
Buildings and other depreciable assets	240,000	278,000
Accumulated depreciation	(88,800)	(135,800)
Land	20,000	20,000
Other assets	3,600	1,000
Total assets	$2,363,000	$2,801,088

Liabilities and Equity
Accounts payable	$340,000	$159,000
Other current liabilities	57,860	67,000
Mortgages	220,000	251,000
Capital - Brendan McLeod	872,570	1,162,044
Capital - Duncan Ryan	872,570	1,162,044
Total liabilities and equity	$2,363,000	$2,801,088

Net income per books is $1,147,590. Prepare a Form 1065 for Angler Associates for tax year 2019. Also attach a Form 1125-A, 1065 Schedule B-1 and Schedule K-1.