Alex and Maura are partners in a candy shop. After all expenses, the accounts show a net income of $95,000 for the year ended 30 June 2020. This is after a payment of $80,000 to Alex and $55,000 to Maura by way of salary. The net income of the practice after salaries is to be split evenly.

What is the taxable income of each partner

Select one:

$127,500 for Alex and $102,500 for Maura

$115,000 for Alex and $115,000 for Maura

$175,000 for Alex and $150,000 for Maura

$80,000 for Alex and $55,000 for Maura

Clear my choice