Aiko, Lani, and Charlie own the 3-Star Partnership, sharing
profits and losses 20:50:30. During the current year, 3-Star has total gross
income of $500,000 and total allowable deductions of $300,000. How should each
of the following taxpayers account for 3-Stars results? Explain.
a. 3-Star Partnership c. Lani
b. Aiko d. Charlie