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Ozzello Property Management is organized as a partnership. The owners, Lorenzo, Erwin, and Michelle, share profits and losses 25:25:50. Ozzello has the following results for

Ozzello Property Management is organized as a partnership. The owners, Lorenzo, Erwin, and Michelle, share profits and losses 25:25:50. Ozzello has the following results for the current year: Management fees $231,200 Long-term gain on sale of investments 20,400 Short-term loss on sale of investments 5,000 Salaries paid to employees 66,700 Office rent 41,700 Office expenses 18,000 Determine each partner's share of Ozzello's taxable income for the current year.

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