Tax expense per books is based on: Before-tax book income Before-tax book income adjusted for permanent differences Before-tax book income adjusted for temporary differences Before-tax book income adjusted for both permanent and temporary differences Question 16 2 pts Hay, Straw and Clover formed the HSC Partnership, agreeing to share profits and losses equally. Clover will manage the business for which he will receive a guaranteed payment of $30,000 per year. Cash receipts and disbursements for the year were as follows: Net Income fromoperations (before guaranteed payment) Guaranteed payment to Clover $90,000 30,000 What is Clover's share of the partnership's ordinary income and guaranteed payment? Ordinary income, $30,000; Guaranteed payment, $10,000 Ordinary income, $20,000; Guaranteed payment, $10,000 Ordinary income, $30,000; Guaranteed payment, $30,000 Ordinary income, $20,000; Guaranteed payment, $30,000