KBL, Inc, AGW, Inc

KBL, Inc., AGW, Inc., Blaster, Inc., Shiny Shoes, Inc., and a group of 24 individuals form Shoes Galore General Partnership on October 11, 20X9. Now, Shoes Galore must adopt its required tax year-end. The partners' year-ends, profits interests, and capital interests are reflected in the table below. Given this information, what tax year-end must Shoes Galore use and what rule requires this year-end? $$\begin{array} { | l | r | } \hline \text { Sales } & \$ 60,000 \\\hline \text { Long-Term Capital Gain } & \$ 8,000 \\\hline \text { Qualified Dwidends } & \$ 5,000 \\\hline \text { Cost of Goods Sold } & \$ 40,000 \\\hline \text { Employee Wages } & \$ 15,000 \\\hline \text { Guaranteed Pay ment to Managing Partner } & \$ 25,000 \\\hline \text { Municipal Bond Interest } & \$ 5,000 \\\hline \text { Section 179 Expense } & \$ 10,000 \\\hline \text { MACRS Depreciation } & \$ 8,000 \\\hline \text { Section 1231 Gains } & \$ 3,000 \\\hline \text { Fines and Penalties } & \$ 1,500\end{array}$$