BRW Partnership Reported Gross Income from Operations of $60,000, Interest

True/False

BRW Partnership reported gross income from operations of $60,000, interest income of $3,000, utilities expense of
$20,000, and a charitable contribution of $6,000. On its Schedule K, the partnership reports ordinary business income of $40,000, separately stated interest income ($3,000), and charitable contributions ($6,000).