RZNY, LP., is a calendar-year, cash-basis limited partnership. Marc Liu, an individual, owns a 55% interest in RZNY as a general partner. During Year 1, RZNY had the following results: Sales - $10,000,000
Cost of goods sold - $7,000,000
General and administrative costs - $1,500,000
Guaranteed payment to Marc Liu - $112,000
Dividend income - $100,000
$30,000 of dividend income is qualified
Interest income - $200,000
$20,000 of interest is municipal bond interest
Distributions to Marc Liu - $70,000
Proceeds - $30,000 for the sale of securities acquired February 1, Year 1, for $20,000 and sold on June 30, Year 1
Proceeds - $30,000 for the sale of an asset used in the course of business, which was acquired 3 years prior for $50,000 and was sold on September 1, Year 1
Adjusted tax basis on September 1, Year 1, was $35,000.

Required:
Write down the components of Marc Liu's Schedule K-1, Partner's Share of Income, Deductions, Credits, etc., for Year 1.

answer; hazards;

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

answeri believe this is (true );