TRP 2 ACCT418 Spring 2018 Castle Clothing is a general partnership formed five years ago that sells premium dress up clothing for Children. They are located at 123 Pirate Cove Drive, Miami, FL 20078. Sally King owns 60% of the interest but is not active in the business. Her address is 5649 Ashford Way, Miami, FL, 20078. Bob Knight manages the business and has a 40% capital and profits interest. His address is 9874 Hartford Drive, Orlando, FL 21078. The partnership has used the cost method to value its inventory all year. They use the accrual method of accounting. The partnership has no foreign partners or transactions. It is neither a tax shelter nor publicly traded. No changes in ownership of partnership interest have occurred during the year The partnership made cash distributions this year as follows: Sally King: $232,576 Bob Knight: $155,050 Prepare a year 2017 partnership tax return (Form 1065, Schedule 1125-A, Form 4797, and K-1s) for Castle Clothing. The financial statements of Castle are presented in the attached Excel file