Write a $12$ page paper that covers how partnership income is presented based on standard accounting methodology and rules. Include how separately stated items would be reflected in this presentation and why each are listed separately. Also cover how income would generally be allocated and how the economic effect would impact this allocation. Finally, include discussion around how transfers of interest, adjustments, and revaluations would be handled in their submission. Include at least one reference in the paper, in addition to comments and thoughts on the required content