[The following information applies to the questions displayed below.] Georgio owns a 20 percent profits and capital interest in Rain Tree LLC. For the current year, Rain Tree had the following revenues, expenses, gains, and losses:

Sales revenue	$ 88,000
Gain on sale of land (1231)	15,600
Cost of goods sold	(27,250)
DepreciationMACRS	(4,950)
179 deduction*	(18,400)
Employee wages	(14,700)
Nondeductible fines and penalties	(5,400)
Municipal bond interest	7,650
Short-term capital gains	5,700
Guaranteed payment to Sandra	(3,650)

*Assume the 179 property placed in service limitation does not apply.

a. How much ordinary business income (loss) is allocated to Georgio for the year?

[The following information applies to the questions displayed below.] Georgio owns a 20 percent profits and capital interest in Rain Tree LLC. For the current year, Rain Tree had the following revenues, expenses, gains, and losses:

Sales revenue	$ 88,000
Gain on sale of land (1231)	15,600
Cost of goods sold	(27,250)
DepreciationMACRS	(4,950)
179 deduction*	(18,400)
Employee wages	(14,700)
Nondeductible fines and penalties	(5,400)
Municipal bond interest	7,650
Short-term capital gains	5,700
Guaranteed payment to Sandra	(3,650)

*Assume the 179 property placed in service limitation does not apply.

b. What are Georgios separately stated items for the year?

a. How much ordinary business income (loss) is allocated to Georgio for the year? Description Total Amount Allocated to Georgio Sales revenue Ordinary Business Income b. What are Georgio's separately stated items for the year? Description Total Amount Allocated to Georgio Separately Stated Items on Schedule K-1