Problem $14-16($Algorithmic$)($L$0.4,5,7)$

Amy and Mitchell share equally in the profits, losses, and capital of the accrual basis AM Products LLC$.$ Amy is a managing member of the LLC $($treated as a general partner$)$ and is a U$.$S$.$ person.

At the beginning of the current tax year, Amy's tax basis capital account has a balance of $$892,000,$ and the LLC has debts of $$579,800$ payable to unrelated parties. All debts are recourse to the LLC$,$ but neither of the LLC members has personally guaranteed them. The following information about AM's operations for the current year is obtained from the LLC$\text{'}$s records:

$\backslash$table$[[$Operating income$*,$$$1,338,000$