How much will be contributed to each of the participants

Reference no: EM13269218

Best Bookkeepers Inc., has decided to adopt a profit-sharing plan that allocates profits in excess of $10,000 to participants in the same ratio that a participant's salary bears to total compensation. Abel earns $100,000, Baker earns $75,000, and Charlie earns $25,000. They are the plan's only participants. Best Bookkeepers has a $60,000 profit. How much will be contributed to each of the participants? Show your work.

Reference no: EM13269218

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