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Turtle Creek Partnership had the following revenues, expenses, gains, losses, and distributions: Sales revenue $ 6 0 , 5 0 0 Long - term capital

Turtle Creek Partnership had the following revenues, expenses, gains, losses, and distributions:
Sales revenue $ 60,500
Long-term capital gains $ 4,200
Cost of goods sold $ (13,600)
DepreciationMACRS $ (3,800)
Amortization of organization costs $ (1,150)
Guaranteed payments to partners for general management $ (15,300)
Cash distributions to partners $ (4,800)
a. Given these items, what is Turtle Creeks ordinary business income (loss) for the year?

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