Partnership SJE Associates has three general partners, Spencer, Jean and Elise, who share profits equally.

During the year, Spencer and Elise each received $300 in guaranteed payments for services. Jean received $500 in guaranteed payments for services.

In addition to guaranteed payments, the partnership's had gross receipts of $4,000, operating expenses of $1,700. Qualified dividend income was $120 and Section 179 expense was $600.

Please answer the following:

Show the calculation of the amount of the partnership's ordinary income, Page 1, Line 22 and Schedule K, Line 1 of the Form 1065:

Show the amount listed on the following lines of Spencers K-1.

Line 1: Ordinary Income

Lines 4a/4c: Guaranteed Payments

Lines 6a/6b: Qualified Dividend Income

Line 12: Sec 179 Expense

Show the amount listed on each of the following lines of Jean's K-1.

Line 1: Ordinary Income

Lines 4a/4c: Guaranteed Payments

Lines 6a/6b: Qualified Dividend Income

Line 12: Sec 179 Expense

Show the calculation of the amount of income on which Jean will pay self-employment tax: