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Ann Stolton and Susie Bright are partners in a business they started two years ago. The partnership agreement states that Stolton should receive a salary
Ann Stolton and Susie Bright are partners in a business they started two years ago. The partnership agreement states that Stolton should receive a salary allowance of $14,700 and that Bright should receive a $21,600 salary allowance. Any remaining income or loss is to be shared equally. Determine each partners share of the current years net income of $59,000. (Enter all values as positive amounts.)
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