Share of ordinary income from the partnership

Question

Problem: Jim Johnson has 40% interest in Richards and Johnson, LLP. The partnership has the following activity for the year:

Sales                                                        $180,000
Cost of Goods Sold                                      105,000
Guaranteed Payment to Ron Richards              25,000
Depreciation                                                  11,000
Interest Expense                                              1,000
Tax-Exempt Income                                         1,500
Health Insurance Premiums for Jim Johnson          700
Health Insurance Premiums for Ron Richards         700

Calculate Jim's share of ordinary income from the partnership. Calculate Jim's share of separately stated items that will appear on his Schedule K-1 from Richards and Johnson, LLP.