This is a three-part question.

$200,000 $ 1,500

Question 1: What is the ordinary business income for LKX Partnership?
Question 2: What is the total amount (if any) of separately stated income items on Schedule K (Form 1065)? Note that each partner's shares of these items is separately

stated on their Schedule K-1 (Form 1065).
Question 3: What is the total amount (if any) of separately stated deduction items on Schedule

K (Form 1065)? Note that each partner's shares of these items will be separately stated on their Schedule K-1 (Form 1065).