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Alban and Thompson formed a partnership with capital contributions with a fair value of $ 4 5 , 0 0 0 and $ 5 5

Alban and Thompson formed a partnership with capital contributions with a fair value of $45,000 and $55,000, respectively. Their partnership agreement calls for Alban to receive a $12,000 annual salary allowance. Also, each partner should receive a share of earnings equal to a 10% return on capital investments. The remaining income or loss is to be divided equally. If the net income for the year is $28,000, then Alban and Thompson's respective shares are:

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