Judy and Larry Are Married and Their Combined Salaries for the Current

Multiple Choice

Judy and Larry are married and their combined salaries for the current year are $115,000. They actively participate in the rental of two houses. For the current year they have the following losses:
?
$$\begin{array} { l r } & \text { Income/(Loss) } \\\text { Limited Partnership A } & \$ ( 5,000 ) \\\text { Limited Partnership B } & 8,000 \\\text { Rental house X } & ( 5,000 ) \\\text { Rental house Y } & ( 2,000 ) \end{array}$$
What is Judy and Larry's adjusted gross income?

A) $108,000
B) $111,000
C) $114,000
D) $115,000
E) $118,000