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)
Depreciation-MACRS.....................................................(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?