Turtle Creek Partnership had the following revenues, expenses, gains, losses, and distributions:

Sales revenue	$ 40,000
Long-term capital gains	$ 2,000
Cost of goods sold	$ (13,000)
DepreciationMACRS	$ (3,000)
Amortization of organization costs	$ (1,000)
Guaranteed payments to partners for general management	$ (10,000)
Cash distributions to partners	$ (2,000)

a. Given these items, what is Turtle Creek's ordinary business income (loss) for the year?

b. What are Turtle Creek's separately stated items for the year?

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check all that apply

Sales revenue

Long-term capital gainsunanswered

Cost of goods soldunanswered

Depreciation MACRSunanswered

Amortization of organization costsunanswered

Guaranteed paymentsunanswered

Cash distributions