=+EX 12-5 Dividing partnership net loss obj. 2 Sixty-year-old Jasmine Howard retired from her computer consulting business in Boston and moved to Florida. There she met 27-year-old Dawn Patel, who had just graduated from Eldon Community College with an associate degree in computer science. Jasmine and Dawn formed a partnership called J&D Computer Consultants.

Jasmine contributed $25,000 for startup costs and devoted one-half time to the business.

Dawn devoted full time to the business. The monthly drawings were $2,000 for Jasmine and $4,000 for Dawn.