The KLM Partnership, which uses the accrual method of accounting, is owned equally by Karen $($cash method taxpayer$),$and LM corporation $($accrual method taxpayer$).$ Karen is a real estate developer. Both materially participate in the business. KLM reported the following results for the current year:TOTALKLM Pship KLM Pship Karen$(50\%)$ KarenOrd. Income Sep.Stated Ord. IncomeSep.Stated Operating profit$$120,000120,000($excluding the items listed below$)$ Dividend income from a $10\%$ owned do $19,00019,000*50\%9,500$ Interest income:Municipal bonds $18,00018,000*50\%9,000$Corporate bonds $29,00029,000*50\%14,500$ Gains and losses of property sales:$1231$ loss $(28,000)(28,000)*50\%(14,000)$Long$-$term capital gains $17,00017,000*50\%8,500$Long$-$term capital losses $(21,000)(21,000)*50\%(10,500)$Short$-$term capital losses $(5,000)(5,000)*50\%(2,500)$ Charitable contributions $(23,000)(23,000)*50\%(11,500)$Interest expense on loansto acquire Operating Assets $(16,000)(16,000)$ Guaranteed payment to Karenfor management services $(37,000)(37,000)37,000$ MACRS depreciation$($includes $$5,000$ IRC Section $179)(41,000)(36,000)(5,000)*50\%(2,500)$ TOTAL $32,000$ a$.$ What is KLMs ordinary income $($loss$)?$ Karens? b$.$ What are the KLMs separately stated items? Karens?