The partnership of Bush and Carter had these balances at September 30,

\(2007:\)

Bush gets \(60 \%\) of profits and losses, and Carter \(40 \%\). Prepare the partnership's income statement for the year ended September 30, \(200^{7}\). 

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Cash $20,000 Service revenue $145,000 Liabilities 40.000 Bush, capital 30,000 Carter, capital 10,000 Total expenses 85.000 Other assets 60,000