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The partnership agreement of the G&P general partnership states that Gary will receive a guaranteed payment of $$13,000,$ and that Gary and Prudence will share the remaining profits or losses in a $\frac{45}{55}$ ratio. For year $1,$ the G&P partnership reports the following results:

$\backslash$table$[[$Sales revenue,$],[$Gain on sale of land $($$$1231),70,000],[$Cost of goods sold,$8,000],[$Depreciation$-$MACRS,$(38,000)$