Problem: Isabel is a 40% partner in the ICE Partnership. During the current year, ICE reported gross receipts of $160,000 and a charitable contribution of $10,000. The partnership paid expenses of $120,000. In addition, ICE distributed $10,000 each to partners Isabel and Emiki. Isabel reports which of the following income from ICE during the current tax year? a. $4,000 ordinary income b. $24,000 ordinary income; $6,000 charitable contribution c. $12,000 ordinary income d. $16,000 ordinary income; $4,000 charitable contribution e. $8,000 ordinary income; $4,000 charitable contribution