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Brent and Erik share income and losses in a 2:1 ratio respectfully, after allowing for salaries of $82,000 to Brent and $120,000 to Erik. Net
Brent and Erik share income and losses in a 2:1 ratio respectfully, after allowing for salaries of $82,000 to Brent and $120,000 to Erik. Net income of the partnership is $264,000. Income should be divided as follows: (approximately) You will be off due to rounding, select the closest answer.
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A.Brent, $41,335; Erik $20,665
B.Brent, $82,000; Erik $120,000
C.Brent, $123,335; Erik $140,665
D.Brent, $132,000; Erik $132,000
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