Lloyd and Harry, equal partners, form the Ant World Partnership. During the year, Ant World had the following revenue, expenses, gains, losses, and distributions:

\begin{array}{c}\begin{array}{lll}\text{Cost of Goods Sold}\\\text{Cash Distribution to Harry}\\\text{Municipal Bond Interest}\\\text{Short-Term Capital Gains}\\\text{Employee Wages}\\\text{Rent}\\\text{Charitable Contributions}\\\text{Sales}\\\text{Repairs and Maintenance}\\\text{Long-term Capital Gains}\\\text{Fines and Penalties}\\\text{Guaranteed Payment to Lloyd}\\\end{array}\begin{array}{lll}&&\end{array}\begin{array}{r}\mathbf{\$ 8 5 , 0 0 0} \\\mathbf{\$ 1 5 , 0 0 0} \\\mathbf{\$ 1 , 5 0 0} \\\mathbf{\$ 4 , 5 0 0} \\\mathbf{\$ 4 0 , 0 0 0} \\\mathbf{\$ 1 0 , 0 0 0} \\\mathbf{\$ 2 5 , 0 0 0} \\\mathbf{\$ 1 7 5 , 0 0 0} \\\mathbf{\$ 5 , 0 0 0} \\\mathbf{\$ 1 2 , 0 0 0} \\\mathbf{\$ 5 , 0 0 0} \\\mathbf{\$ 2 5 , 0 0 0}\\\end{array}\end{array}

Given these items, what amount of ordinary business income (loss) and what separately-stated items should be allocated to each partner for the year?

Which of the Following Items Are Subject to the Medicare

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