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4. Rocky and Bull Winkle are partners in a business, Rocky's original capital contribution was $55,000 and Bull Winkle's was $75,000. They agreed to share

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4. Rocky and Bull Winkle are partners in a business, Rocky's original capital contribution was $55,000 and Bull Winkle's was $75,000. They agreed to share profits and losses as follows: As salaries As interest on original capital Remaining profits and losses Rocky $33,000 10% 1/3 Bull Winkle $42,000 10% 2/3 Calculate each partner's share of profits and losses, assuming (a) the profit was $120,000, (b) the profit was $67,500, and (c) the loss was $10,000

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