Todd and Carlo became partners on January 1, 2005, in their joint venture ToLo Sports Bar. Todd

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Todd and Carlo became partners on January 1, 2005, in their joint venture ToLo Sports Bar. Todd put in $50,000, while Carlo’s share was $75,000. The net income for the year is $12,000.

If the income is divided according to their capital, how should the income be divided? LO5

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