Classifiy the partnerships items

Reference no: EM133611548

Question: Two Parts: 1) Classifiy the partnership's items below as either ordinary business income or separately stated item. Sales $75,000 Ordinary Income/expense Cost of Goods Sold $50,000 Ordinary Income/expense Office Expenses $5,000 Ordinary income/expense Charitable Contributions $2,000 Separately Stated Item Dividend Income $5,000 Separately Stated Item 2) Calculate ordinary Income

Reference no: EM133611548

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