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Brent and Walter formed a partnership by contributing $45,000 and 55,000 respectively. The company reported net income of $65,000 in its first year of operations.

Brent and Walter formed a partnership by contributing $45,000 and 55,000 respectively. The company reported net income of $65,000 in its first year of operations. Assuming the partners share profits and losses based on the beginning of year capital balances, how much would be distributed to each partner?

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