Required Information Problem 09-61 (LO 09-4) (Algo) [The following Information applies to the questions displayed below.] The partnership agreement of the G&P general partnership states that Gary will receive a guaranteed payment of $16,200, and that Gary and Prudence will share the remaining profits or losses in a 45/55 ratio. For year 1, the G&P partnership reports the following results: Sales revenue Gain on sale of land (1231) Cost of goods sold Depreciation-MACRS Employee wages Cash charitable contributions Municipal bond interest Other expenses $ 86,200 8,500 (35,500) (15,500) (17,600) (5,500) 3,650 (3,200) Note: Negative amounts should be indicated by a minus sign. Problem 09-61 Part a (Algo) Required: a-1. How much ordinary Income (loss) is allocated to Gary for the year?