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The partnership agreement of the G&P general partnership states that

Gary will receive a guaranteed payment of $$17,400,$ 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:

Note: Negative amounts should be indicated by a minus sign.

c$.$ What do you believe Gary's share of self$-$employment income $($loss$)$ to be reported on his

year $1$ Schedule K$-1$ should be$,$ assuming G&P is an LLC and Gary spends $2,000$ hours per

year working there full time?