(Answered) Question mabel loretta and margaret are equal partners in a

Accounting

Question: Mabel, Loretta, and Margaret are equal partners in a local restaurant. The restaurant reports the following items for the current year:

Revenue	$	490,000
Business expenses		255,000
Investment expenses		124,500
Short-term capital gains		107,000
Short-term capital losses		(151,300)

Each partner receives a Schedule K-1 with one-third of the preceding items reported to her.

How must each individual report these results on her Form 1040?

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