Although few partnerships provide publicly available financial reports, some limited partnerships do provide their financial reports. These limited partnerships usually have a general partner or other major affiliate that has offered securities to the public, such as those offered by a real estate investment trust. Using the SEC's EDGAR (www.sec.gov), obtain the annual report for Riverside Park Associates LP for the most recent year available. The form the entity filed is a 10KSB, which is the small business annual filing.

Required

Answer each of the following questions from the information you obtain by analyzing the annual report of Riverside Park Associates LP.

a. Describe the business in which the limited partnership is engaged.

b. Identify the general partner of the limited partnership and describe the business relationships between the general partner and its major affiliates.

c. What percentage of the total number of outstanding units is owned by the general partner and its affiliates at the end of the year?

d. What amounts are presented for the net balances in the partners' capital accounts as presented on the year-end balance sheet? Discuss how a partnership can have deficit balances for its partnership capital.

e. Who provides management and administrative services for the limited partnership? What is the total amount of these charges for the year of your 10-KSB and the prior year? How much of these costs are charged in the determination of partnership income/loss? Where are the other costs charged to? Explain.

f. What is the profit allocation ratio between the general partner and the limited partners?