Aaron, Deanne, and Keon formed the Blue Bell General Partnership at the beginning of the current year. Aaron and Deanne each contributed $110,000 and Keon transferred an acre of undeveloped land to the partnership. The land had a tax basis of $70,000 and was appraised at $180,000. The land was also encumbered with a $70,000 nonrecourse mortgage for which no one was personally liable. All three partners agreed to split profits and losses equally. At the end of the first year, Blue Bell made a $7,000 principal payment on the mortgage. For the first year of operations, the partnership records disclosed the following information.

(Do not round intermediate calculations. Round our final answers to the nearest whole dollar amount. Negative amounts should be entered with a minus sign. Leave no answer blank. Enter zero if applicable.)

Sales revenue $ 470,000
Cost of goods sold $ 410,000
Operating expenses $ 70,000
Long-term capital gains $ 2,400
?1231 gains $ 900
Charitable contributions $ 300
Municipal bond interest $ 300
Salary paid as guaranteed payment to Deanna (not included in expenses) $ 3,000
Using the information generated in answering parts (a) and (b), prepare Blue Bell's page 1 and Schedule K to be included with its Form 1065 for its first year of operations, along with Schedule K-1 for Deanne. (Use 2016 tax rules regardless of the year on the tax form. Percentages should be rounded to two decimal places.)