The partnership agreement of the G&P general partnership states that Gary will receive a guaranteed payment of $13,000, and that Gary and Prudence will share the remaining profits or losses in a 45/55 ratio. For year 1, the G&P partnership reports the following results:

Sales revenue	$ 79,200
Gain on sale of land (1231)	7,650
Cost of goods sold	(37,200)
DepreciationMACRS	(18,400)
Employee wages	(14,700)
Cash charitable contributions	(4,100)
Municipal bond interest	3,400
Other expenses	(5,600)

Note: Negative amounts should be indicated by a minus sign.

b. Compute Gary's share of self-employment income (loss) to be reported on his year 1 Schedule K-1, assuming G&P is a limited partnership and Gary is a limited partner.