The partnership agreement of Nellie Stayton and Jerald Williams does not indicate how the profits and losses

Question:

The partnership agreement of Nellie Stayton and Jerald Williams does not indicate how the profits and losses will be shared. Before dividing the net income, Stayton’s capital account balance was $160,000, and Williams’s capital balance was $40,000. The net income of their firm for the year that just ended was $94,000. How much income will be allocated to Stayton and how much to Williams?

Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...