Tom, Tim and Tony operate a restaurant named Fish and Chips - as a partnership. Tom owns 40% and Tim and Tony each own 30%. For the year, Fish and Chips reports the following: Sales revenues $330,000 Short-term capital gains 3,000 Short-term capital losses (7,000) Trade and business expenses (120,000) Investment expenses (1,000) What amount will Tim report as his ordinary income from the partnership? Select one: a. $54,400 b. $63,000 c. $54,000 d. $56,000