Paul and Wayne equally own the PW Partnership. Paul’s basis was $30,000 and Wayne’s basis was $22,000 at the beginning of the year. PW Partnership had the following income and

Paul and Wayne equally own the PW Partnership. Paul’s basis was $30,000 and Wayne’s basis was $22,000 at the beginning of the year. PW Partnership had the following income and expense items:
a. Prepare page 1 and page 4 of Form 1065 – ordinary income and separately stated items for the partnership.
b. Calculate Paul’s basis in his partnership interest.
c. Calculate Wayne’s basis in his partnership interest.