Problem 10-39 (LO. 6, 7, 8, 9, 12) The KL Partnership is owned equally by Kayla and Lisa. At the beginning of the year, Kayla's tax basis in her KL interest is $20,000 and Lisa's tax basis is $16,000. Partnership debt did not change from the beginning to the end of the tax year. KL reported the following income and expenses for the current tax year. Assume total assets are $680,400. a. Complete whether the following items are reported on Form 1065, page 1 or on Form 1065, Page 4, Schedule K. How much is the partnership's ordinary income on page 1 ? X c. What information will be shown on Kayla's and Lisa's Schedules K-1, Part III? Kayla's and Lisa's Schedules K-1 will each show a $ share of partnership income (line 1 ), and a $ share of the partnership's long-term capital gain (line 9a ), and $ of income from self-employment (line 14a). Kayla's K1 will show a $ distribution and Lisa's K1 will show a $ distribution (both on line 19 ). What items will Kayla and Lisa report on their Federal income tax returns? Kayla and Lisa will each report $ X on their Schedule E and $ on Schedule D. d. What is each partner's basis in her partnership interest at the end of the tax year? Kayla's basis: s Lisa's basis: \$