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Armstrong, Martin, and Brook have capital balances of $18,000, $27,000, and $45,000, respectively. The partners share profits and losses as follows: a. The first

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Armstrong, Martin, and Brook have capital balances of $18,000, $27,000, and $45,000, respectively. The partners share profits and losses as follows: a. The first $50,000 is divided based on the partners' capital balances. b. The next $50,000 is based on service, shared equally by Armstrong and Brook. Martin does not receive a salary allowance. C. The remainder is divided equally. Read the requirements. Requirement 1. Compute each partner's share of the $127,000 net income for the year. (Complete all answer boxes. For amounts that are $0, make sure to enter "0" in the appropriate column.) Net income (loss) Capital allocation: Armstrong Martin Brook Salary allowance: Armstrong Martin Brook Total salary and capital allocation Net income (loss) remaining for allocation Remainder shared equally: Armstrong Armstrong Martin Brook Total

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