Mabel, Loretta, and Margaret are equal partners in a local restaurant. The restaurant reports the following items for the current year:
Revenue……………………….......... $600,000
Business expenses……………...… 310,000
Investment expenses…………..… 150,000
Short-term capital gains………... 157,000
Short-term capital losses……… (213,000)
Each partner receives a Schedule K-1 with one-third of the preceding items reported to her. How must each individual report these results on her Form 1040?