The partnership agreement of the g& p general partnership states that gary will receive a guaranteed payment of $13,000, and that gary and prudence will share the remaining profits or losses in a 45/55 ratio. for year 1, the g& p partnership reports the following results: sales revenue $70,000 gain on sale of land (§1231) 8,000 cost of goods sold (38,000) depreciation—macrs (9,000) employee wages (14,000) cash charitable contributions (3,000) municipal bond interest 2,000 other expenses (2,000) a) compute gary’s share of ordinary income (loss) and separately stated items to be reported on his year 1 schedule k-1, including his self-employment income (loss). b) compute gary’s share of self-employment income (loss) to be reported on his year 1 schedule k-1, assuming g& p is a limited partnership and gary is a limited partner. c) what do you believe gary’s share of self-employment income (loss) to be reported on his year 1 schedule k-1 should be, assuming g& p is an llc and gary spends 2,000 hours per year working there full time? spilker, brian; spilker, brian. mcgraw-hill's taxation of individuals and business entities 2020 edition (page 20-46). mcgraw-hill higher education. kindle edition.