Required Information Problem 20-61 (LO 20-4) 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 $19.000 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 (51231) Cost of goods sold Depreciation- CRS Deployee wages Cash charitable contributions Municipal bond interest Other expenses $ 82,200 $ , 300 $140,700) $18.600) $ 16, 600) $ (3,400) $ 5,600 $ 14.800) (Negative amounts should be Indicated by a minus slgn.) Problem 20-61 Part-a -1. How much ordinary Income (loss) is allocated to Gary for the year? 6-2 Compute Gary's share of separately stated items to be reported on his year 1 Schedule K-1, including his self-employment Income foss) Complete this question by entering your answers in the tabs below. Reg A1 Reg A2 Compute Gary's share of separately stated items to be reported on his year 1 Schedule K-1, including his self- employment income (los). (Round your intermediate computations and final answers to the nearest whole dollar amount.) Description Total Amount Allocated to Gary Separately stated items on Schedule Self-employment income 1: 12,475 Guaranteed payment 19.000