The partnership agreement of the G&P general partnership states that Gary will receive a guaranteed payment of $$14,100,$ 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:

$\backslash$table$[[$Sales revenue,$],[$Gain on sale of land $($$$1231),7,500],[$Cost of goods sold,$(53,500)$