Ezra, an entrepreneur, started an e-learning business with a personal investment of $110,000. He needed more funds and decided to raise money from two of his high-net-worth friends, Freda and Zhang Li. In return for the money, he gave them ownership in his company. Based on their investments, Ezra, Freda, and Zhang Li own the company in the ratio of 11:5:2. All profits were also agreed to be shared in the ratio of their investments.

a. Calculate Freda's and Zhang Li's investments in the business.

b. If the business earned a profit of $260,000 in the first year, calculate each partner's share of the profit.

c. In the second year, if Ezra earned $60,000 in profit from the business, how much did Freda and Zhang Li make?

AppendixLO1