Required information [The following information applies to the questions displayed below] Aaron, Deanne, and Keon formed the Blue Bell General Partnership at the beginning of the current year. Aaron and Deanne each contributed $150,000, and Keon transferred an acre of undeveloped land to the partnership. The land had a tax basis of $76,000 and was appraised at $220,000. The land was also encumbered with a $76,000 nonrecourse mortgage for which no one was personally liable. All three partners agreed to split profits and losses equally. At the end of the first year, Blue Bell made a $11,000 principal payment on the mortgage. For the first year of operations, the partnership records disclosed the following information: Sales revenue Cost of goods sold Operating expenses Long-term capital gains 51231 gains Municipal bond interest Charitable contributions Salary paid as a guaranteed payment to Deanne (not included in expenses) $530,000 442,000 102,000 3,000 600 300 300 3,000 R Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Required D Compute the adjusted basis of each partner's interest in the partnership immediately after the formation of the partnership. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Keon Aaron Deanne Adjusted basis $ 102,000 $ 150,000 $ 150,000 Regante A Required B > Required information Required A Required B Required D List the separate items of partnership income, gains, losses, and deductions that the partners must show on their individual income tax returns that include the results of the partnership's first year of operations. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Negative amounts should be entered with a minus sign. Leave no answers blank. Enter zero if applicable. Description Ordinary business income (loss)) Separately stated items on Schedule K-1: Total Keon Aaron Deanne Prev 1 2 3 of 3 Next > Show less a Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Required D What are the partners' adjusted basis in their partnership interests at the end of the first year of operations? Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Keon Adjusted basis Aaron Deanne