Please complete all of the requirements

The following additional information is available about the current year's activities. (Click the icon to view the additional information.) Carl, Amy, and Roger are equal partners in the CAR Partnership, which uses the accrual method of accounting. All three materially participate in the business. CAR reports financial accounting income of $164,000 for the current year. The partnership used the following information to determine financial accounting income. E (Click the icon to view the information.) Read the requirements Requirement a. What is CAR's financial accounting income? CAR's financial accounting income is Requirements b, c, and d. What is CAR's partnership taxable income? What is CAR's ordinary income (loss)? What are CAR's separately stated items? Begin by determining the partnership's taxable income, then ordinary income (loss), and finally separately stated items (if a box is not used in the table leave the box empty, do not enter a zero, Use parentheses or a minus sign for loss and expense amounts.) Enter any number in the edit fields and then continue to the next question The following additional information is available about the current year's activities. Click the icon to view the additional information.) Carl, Amy, and Roger are equal partners in the CAR Partnership, which uses the accrual method of accounting All three materially participate in the business. CAR reports financial accounting income of $164,000 for the current year. The partnership used the following information to determine financial accounting income (Click the icon to view the information.) Read the requirements Taxable Ordinary Separately Stated Items Income Income Income Operating profit Rental income Interest on municipal bonds Interest on corporate bonds Enter any number in the edit fields and then continue to the next question The following additional information is available about the current year's activities. (Click the icon to view the additional information.) Carl, Amy, and Roger are equal partners in the CAR Partnership, which uses the accrual method of accounting. All three materially participate in the business. CAR reports financial accounting income of $164,000 for the current year. The partnership used the following information to determine financial accounting income. (Click the icon to view the information.) Read the requirements. Interest on municipal bonds Interest on corporate bonds Dividend income Gain on investment land Long-term capital gain Short-term capital loss Sec. 1231 gain Enter any number in the edit fields and then continue to the next question Carl, Amy, and Roger are equal partners in the CAR Partnership, which uses the accrual method of accounting. All three materially participate in the business. CAR reports financial accounting income of $164,000 for the current year. The partnership used the following information to determine financial accounting income. (Click the icon to view the information.) The following additional information is available about the current year's activities. Click the icon to view the additional information.) Read the requirements *** HERE Short-term capital loss Sec. 1231 gain Unrecaptured Sec. 1250 gain Expenses Depreciation Interest expense on mortgage Interest expense on municipal bond loan Enter any number in the edit fields and then continue to the next question Carl, Amy, and Roger are equal partners in the CAR Partnership, which uses the accrual method of accounting All three materially participate in the business. CAR reports financial accounting income of $164,000 for the current year. The partnership used the following information to determine financial accounting income. Click the icon to view the information.) The following additional information is available about the current year's activities Click the icon to view the additional information) Read the requirements Expenses Depreciation Interest expense on mortgage Interest expense on municipal bond loan Guaranteed payment Low-income housing expenditures N Total Enter any number in the edit fields and then continue to the next question X More Info . . se cia The partnership received a $1,100 prepayment of rent for next year but has not recorded it as income for financial accounting purposes. The partnership recorded the land for financial accounting purposes at $12,000. MACRS depreciation on the rental real estate and machinery and equipment were $11,000 and $32,000, respectively, in the current year. MACRS depreciation for the rental real estate includes depreciation on the low-income housing expenditures. . t . ste into ned Print Done any hin surront vaade astivities Requirements N a. What is CAR's financial accounting income? b. What is CAR's partnership taxable income? c. What is CAR's ordinary income (loss)? d. What are CAR's separately stated items? + ht Print Done cd ny number in the edit fields and then continue to the next question. Data Table the hos An erg eel cia Th mir Slid $ 69,400 15,000 Operating profit (excluding the items listed below) Rental income Interest income: Municipal bonds (tax-exempt) Corporate bonds Dividend income (all from less-than-20%-owned domestic corporations) Gains and losses on property sales: Gain on sale of land held as an investment (contributed by Carl six years ago when its basis was $4,000 and its FMV was $12,000) Long-term capital gains Short-term capital losses 16,000 3,100 25,000 ens est Fest ran 55,000 30,000 8,000 -ind al ran Print Done x 1 Data Table the A 25,000 al ir mid Dividend income (all from less-than-20%-owned domestic corporations) Gains and losses on property sales: Gain on sale of land held as an investment (contributed by Carl six years ago when its basis was $4,000 and its FMV was $12,000) Long-term capital gains Short-term capital losses Sec. 1231 gain Unrecaptured Sec. 1250 gain Depreciation Rental real estate Machinery and equipment 55,000 30,000 8,000 s ci st 4,000 43,000 st an nd 11,000 28,000 an Print Done N * Data Table the wowo Sony VPLY 8,000 4,000 43,000 Short-term capital losses Sec. 1231 gain Unrecaptured Sec. 1250 gain Depreciation: Rental real estate Machinery and equipment Interest expense related to: Mortgages on rental property Loans to acquire municipal bonds Guaranteed payments to Carl Low-income housing expenditures qualifying for credit 11,000 28,000 st st an 14,000 1,500 34,000 18,000 nd an Print Done N The following additional information is available about the current year's activities. (Click the icon to view the additional information.) Carl, Amy, and Roger are equal partners in the CAR Partnership, which uses the accrual method of accounting. All three materially participate in the business. CAR reports financial accounting income of $164,000 for the current year. The partnership used the following information to determine financial accounting income. E (Click the icon to view the information.) Read the requirements Requirement a. What is CAR's financial accounting income? CAR's financial accounting income is Requirements b, c, and d. What is CAR's partnership taxable income? What is CAR's ordinary income (loss)? What are CAR's separately stated items? Begin by determining the partnership's taxable income, then ordinary income (loss), and finally separately stated items (if a box is not used in the table leave the box empty, do not enter a zero, Use parentheses or a minus sign for loss and expense amounts.) Enter any number in the edit fields and then continue to the next question The following additional information is available about the current year's activities. Click the icon to view the additional information.) Carl, Amy, and Roger are equal partners in the CAR Partnership, which uses the accrual method of accounting All three materially participate in the business. CAR reports financial accounting income of $164,000 for the current year. The partnership used the following information to determine financial accounting income (Click the icon to view the information.) Read the requirements Taxable Ordinary Separately Stated Items Income Income Income Operating profit Rental income Interest on municipal bonds Interest on corporate bonds Enter any number in the edit fields and then continue to the next question The following additional information is available about the current year's activities. (Click the icon to view the additional information.) Carl, Amy, and Roger are equal partners in the CAR Partnership, which uses the accrual method of accounting. All three materially participate in the business. CAR reports financial accounting income of $164,000 for the current year. The partnership used the following information to determine financial accounting income. (Click the icon to view the information.) Read the requirements. Interest on municipal bonds Interest on corporate bonds Dividend income Gain on investment land Long-term capital gain Short-term capital loss Sec. 1231 gain Enter any number in the edit fields and then continue to the next question Carl, Amy, and Roger are equal partners in the CAR Partnership, which uses the accrual method of accounting. All three materially participate in the business. CAR reports financial accounting income of $164,000 for the current year. The partnership used the following information to determine financial accounting income. (Click the icon to view the information.) The following additional information is available about the current year's activities. Click the icon to view the additional information.) Read the requirements *** HERE Short-term capital loss Sec. 1231 gain Unrecaptured Sec. 1250 gain Expenses Depreciation Interest expense on mortgage Interest expense on municipal bond loan Enter any number in the edit fields and then continue to the next question Carl, Amy, and Roger are equal partners in the CAR Partnership, which uses the accrual method of accounting All three materially participate in the business. CAR reports financial accounting income of $164,000 for the current year. The partnership used the following information to determine financial accounting income. Click the icon to view the information.) The following additional information is available about the current year's activities Click the icon to view the additional information) Read the requirements Expenses Depreciation Interest expense on mortgage Interest expense on municipal bond loan Guaranteed payment Low-income housing expenditures N Total Enter any number in the edit fields and then continue to the next question X More Info . . se cia The partnership received a $1,100 prepayment of rent for next year but has not recorded it as income for financial accounting purposes. The partnership recorded the land for financial accounting purposes at $12,000. MACRS depreciation on the rental real estate and machinery and equipment were $11,000 and $32,000, respectively, in the current year. MACRS depreciation for the rental real estate includes depreciation on the low-income housing expenditures. . t . ste into ned Print Done any hin surront vaade astivities Requirements N a. What is CAR's financial accounting income? b. What is CAR's partnership taxable income? c. What is CAR's ordinary income (loss)? d. What are CAR's separately stated items? + ht Print Done cd ny number in the edit fields and then continue to the next question. Data Table the hos An erg eel cia Th mir Slid $ 69,400 15,000 Operating profit (excluding the items listed below) Rental income Interest income: Municipal bonds (tax-exempt) Corporate bonds Dividend income (all from less-than-20%-owned domestic corporations) Gains and losses on property sales: Gain on sale of land held as an investment (contributed by Carl six years ago when its basis was $4,000 and its FMV was $12,000) Long-term capital gains Short-term capital losses 16,000 3,100 25,000 ens est Fest ran 55,000 30,000 8,000 -ind al ran Print Done x 1 Data Table the A 25,000 al ir mid Dividend income (all from less-than-20%-owned domestic corporations) Gains and losses on property sales: Gain on sale of land held as an investment (contributed by Carl six years ago when its basis was $4,000 and its FMV was $12,000) Long-term capital gains Short-term capital losses Sec. 1231 gain Unrecaptured Sec. 1250 gain Depreciation Rental real estate Machinery and equipment 55,000 30,000 8,000 s ci st 4,000 43,000 st an nd 11,000 28,000 an Print Done N * Data Table the wowo Sony VPLY 8,000 4,000 43,000 Short-term capital losses Sec. 1231 gain Unrecaptured Sec. 1250 gain Depreciation: Rental real estate Machinery and equipment Interest expense related to: Mortgages on rental property Loans to acquire municipal bonds Guaranteed payments to Carl Low-income housing expenditures qualifying for credit 11,000 28,000 st st an 14,000 1,500 34,000 18,000 nd an Print Done N