please solve using 2018 forms: 1065, all partners' K1's and Form 1125A. Thanks:)

PARTNERSHIP TAX RETURN Required: For 2018, complete Outdoors R Us general partnership's Form 1065, all partners' K-1s, Form 1125-A If any information is missing, use reasonable assumptions to fill in any gaps. Facts: The Outdoors R Us partnership was formed on April 1, 2009, by Matt Sully and Sally Jones when they each contributed an equal amount of cash to start the new enterprise. Outdoors R Us is an outdoor equipment retailer selling camping, fishing, skiing, and other outdoor gear to the general public. Each partner shares equally in the profits, loss, and capital interests. Their profits, loss, and capital interests have remained unchanged since the partnership was formed All partners are actively involved in the partnership, although Matt is the only partner who works for the partnership. Matt is also the tax matters partner for the partnership. Outdoors R Us is located at 1065 North 365 South, Ogden, UT, 84401. The employer identification number for Outdoors R Us is 85-8976654 Outdoors R Us uses the accrual method of accounting and has a calendar year-end, Matt's address is 543 Wander Lane, Holliday, UT 84503 and his Social Security number is 445 27-3484. Sally's address 123 Lee Lane, Holliday, UT 84503 and her Social Security number is 123-45- 6789 Notes: 1. Outdoors R Us's inventory-related purchases during the year were $500,000. Aspen values its inventory based on the cost method. Assume the rules of $263A do not apply. 2. Partnership liabilities consist of accounts payable and a business loan (all partners responsible for paying these liabilities if the partnership does not). 3. For tax purposes, Outdoors R Us has $17,300 of tax depreciation. 4. On November 20th, Outdoors R Us distributed $180,000 ($90,000 per partner) to the partners. 5. All miscellaneous expenses are fully deductible items. 6. Outdoors R Us maintains its books using generally accepted accounting principles. 7. Capital account balances on January 1 are as follows: Matt Sully: $592,750 Sally Jones: $592,750 The following is Outdoors R Us's 2018 income statement for books: The following are Outdoors R Us's audited balance sheets as of January 1, 2018, and December 31, 2018: 2015 Decent Jany - Outdoors R Us Income Statement For year ending December 31, 2018 Sales $ 986,200 Sales Returns and Allowances (30,400) Cost of Goods Sold (538,200) Gross Profit from Operations 417,600 $ Assets Cash Accounts receivable Inventory Investments Furniture & Fixtures Accumulated depreciation Total assets $ 356,800 115,000 1,000,000 160,000 119,000 (25,000) $ 1,725,800 656,750 165,000 961,800 175.000 136,300 (29.550) 2,065,300 Other Income Interest from money Mattet account Dividend income Gross Income 3,200 34,000 454,800 $ $ Liabilities and capital Accounts payable Notes Payable (more than 1 year) Capital accounts Total liabilities and capital $ 290,300 250,000 1,185,500 $ 1,725,800 556,640 250,000 1,258,660 2,065,300 $ Expenses: Employee wages Interest expense Payroll and property taxes Supplies Rent on retail building - Depreciation on furniture and fixtures Advertising Guaranteed payments to Matt Sully Utilities Accounting and legal services Meals Charitable contribution to the Sierra Club Miscellaneous expenses Total Expenses Net Income for Books 95,600 2,500 10,800 4,000 18,800 4,550 8,000 35,000 6,700 4,400 2,240 3,300 5,750 (201,640) 253,160 PARTNERSHIP TAX RETURN Required: For 2018, complete Outdoors R Us general partnership's Form 1065, all partners' K-1s, Form 1125-A If any information is missing, use reasonable assumptions to fill in any gaps. Facts: The Outdoors R Us partnership was formed on April 1, 2009, by Matt Sully and Sally Jones when they each contributed an equal amount of cash to start the new enterprise. Outdoors R Us is an outdoor equipment retailer selling camping, fishing, skiing, and other outdoor gear to the general public. Each partner shares equally in the profits, loss, and capital interests. Their profits, loss, and capital interests have remained unchanged since the partnership was formed All partners are actively involved in the partnership, although Matt is the only partner who works for the partnership. Matt is also the tax matters partner for the partnership. Outdoors R Us is located at 1065 North 365 South, Ogden, UT, 84401. The employer identification number for Outdoors R Us is 85-8976654 Outdoors R Us uses the accrual method of accounting and has a calendar year-end, Matt's address is 543 Wander Lane, Holliday, UT 84503 and his Social Security number is 445 27-3484. Sally's address 123 Lee Lane, Holliday, UT 84503 and her Social Security number is 123-45- 6789 Notes: 1. Outdoors R Us's inventory-related purchases during the year were $500,000. Aspen values its inventory based on the cost method. Assume the rules of $263A do not apply. 2. Partnership liabilities consist of accounts payable and a business loan (all partners responsible for paying these liabilities if the partnership does not). 3. For tax purposes, Outdoors R Us has $17,300 of tax depreciation. 4. On November 20th, Outdoors R Us distributed $180,000 ($90,000 per partner) to the partners. 5. All miscellaneous expenses are fully deductible items. 6. Outdoors R Us maintains its books using generally accepted accounting principles. 7. Capital account balances on January 1 are as follows: Matt Sully: $592,750 Sally Jones: $592,750 The following is Outdoors R Us's 2018 income statement for books: The following are Outdoors R Us's audited balance sheets as of January 1, 2018, and December 31, 2018: 2015 Decent Jany - Outdoors R Us Income Statement For year ending December 31, 2018 Sales $ 986,200 Sales Returns and Allowances (30,400) Cost of Goods Sold (538,200) Gross Profit from Operations 417,600 $ Assets Cash Accounts receivable Inventory Investments Furniture & Fixtures Accumulated depreciation Total assets $ 356,800 115,000 1,000,000 160,000 119,000 (25,000) $ 1,725,800 656,750 165,000 961,800 175.000 136,300 (29.550) 2,065,300 Other Income Interest from money Mattet account Dividend income Gross Income 3,200 34,000 454,800 $ $ Liabilities and capital Accounts payable Notes Payable (more than 1 year) Capital accounts Total liabilities and capital $ 290,300 250,000 1,185,500 $ 1,725,800 556,640 250,000 1,258,660 2,065,300 $ Expenses: Employee wages Interest expense Payroll and property taxes Supplies Rent on retail building - Depreciation on furniture and fixtures Advertising Guaranteed payments to Matt Sully Utilities Accounting and legal services Meals Charitable contribution to the Sierra Club Miscellaneous expenses Total Expenses Net Income for Books 95,600 2,500 10,800 4,000 18,800 4,550 8,000 35,000 6,700 4,400 2,240 3,300 5,750 (201,640) 253,160