McGraw-Hill's Taxation of Business Entities 3rd Edition by Connie Weaver, Brian Spilker, Edmund Outslay, John Robinson, Ronald Worsham, Benjamin Ayers, John Barrick

Exercise 54

{Research} Hoki Poki, a cash-method general partnership, recorded the following items for its current tax year:
As part of preparing Hoki Poki's current year return, identify the items that should be included in computing its ordinary business income (loss) and those that should be separately stated. { Hint: See Schedule K-1 and related preparer's instructions at www.irs.gov.}