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Business, 03.04.2020 02:08 RockieLuv8707

Comfy Chairs Manufacturing, Ltd. operates as a partnership and files Form 1065. Comfy manufactures inflatable lounge chairs. During the current tax year ended December 31, Comfy generated income and expenses as stated below. What is the correct amount of ordinary income (loss) from trade or business activities Comfy should report on Schedule K for the current year?Employee wages $15,000Income from rental real estate 20,000Charitable contributions 500Cost of goods sold 10,000Income from chair sales 75,000a. $65,000b. $69,500c. $50,000d. $30,000

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