The KL Partnership is owned equally by Kayla and Lisa. At the beginning of the year, Kaylas basis is $20,000 and Lisas basis is $16,000. Partnership debt did not change from the beginning to the end of the tax year. KL reported the following income and expenses for the current tax year:

Sales revenue $150,000

Cost of sales 80,000

Distribution to Lisa 15,000

Depreciation expense 20,000

Utilities 14,000

Rent expense 18,000

Long-term capital gain 6,000

Payment to Mercy Hospital for Kaylas medical expenses 12,000

Prepare a Microsoft Excel spreadsheet that could be used in a CPA firm to accumulate KLs information that would be reported on Form 1065, page 1 [Ordinary business income (loss)] and page 4 (Schedule K).How much is the partnerships ordinary income on page 1? What information is shown on Schedule K?