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Calculate the share of the profit each partner receive

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Question - Ashton and John invested $70,000 and $110,000, respectively, in a partnership they began one year ago. The partnership agreement specifies a salary allowance of $55,000 to Ashton and $65,000 to John, 9% interest on their investments, and the balance shared on a 3:2 ratio (with Ashton getting 3). Assuming the partnership's profit was $200,000 for the year, calculate the share of the profit each partner should receive?

Reference no: EM133177738

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