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Bray, Lincoln, and Mapes arranged to import and sell orchid corsages for a university dance. They agreed to share equally the net income or net

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Bray, Lincoln, and Mapes arranged to import and sell orchid corsages for a university dance. They agreed to share equally the net income or net loss of the venture Bray and Uncoln advanced 5660 and $990 of their own respective funds to pay for advertising and other expenses. After collecting for all sales and paying creditors the partnership has $2,670 in cash Use to minus sign to indicate any deficiency for the capital accounts a. How much net income was earned from the venture b. How should the $2,670 be distributed Bray Lincoln Mapes Total Capital balances and cash distribution C. Assume that the partnership has only $1.410 instead of $2,670. Complete the following table to determine if any of the three partners have a capital deficiency? Bray Lincoln Mapes Total Capital balances

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