The WE Partnership reports the following items for its current tax year:
Income
Interest income:
Expenses
What is the WE Partnership's ordinary income for the current year?
Definitions:
Lost Property
Property that the owner has involuntarily parted with and then cannot find or recover.
Mislaid Property
Property that is intentionally set down by someone who then forgets to retrieve it, differing from lost or abandoned property.
Prize-Winning Horse
A horse that has won awards or recognition in competitive events or shows due to its performance, breed qualities, or other characteristics.
Voluntarily Transfers
The act of willingly transferring ownership or rights of an asset or property from one party to another without coercion.
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