The partnership agreement of the G&P general partnership states that Gary will receive a guaranteed payment of $$18,700,$

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:

Required:

a$-1.$ How much ordinary income $($loss$)$ is allocated to Gary for the year?

a$-2.$ Compute Gary's share of separately stated items to be reported on his year $1$ Schedule K$-1,$ including his self$-$employment income

$($loss$).$

Complete this question by entering your answers in the tabs below.

Required A$1$

Required A$2$

How much ordinary income $($loss$)$ is allocated to Gary for the year?

Note: Round your intermediate computations to the nearest whole dollar amount.