ER General Partnership, a Medical Supplies Business, States in Its

ER General Partnership, a medical supplies business, states in its partnership agreement that Erin and Ryan agree to split profits and losses according to a 40/60 ratio.Additionally, the partnership will provide Erin with a $15,000 guaranteed payment for services she provides to the partnership.ER Partnership reports the following revenues, expenses, gains, losses, and distributions for its current taxable year:
$\begin{array}{llcc} \text { Gain on Sale of Land}^{*} & \$4,000\\ \text { MACRS Depreciatior } &\$7,500\\ \text { Charitable Contributions } &\$12,500\\ \text {Sales } &\$40,000\\ \text { Interest Income } &\$500\\ \text {Cost of Goods Bold } &\$32,000\\ \text {Section179 Expense } &7,000\\ \text {Tax-Exempt Income } &\$2,000\\ \text { Other Income } &\$5,000\\\end{array}$

*The land is a