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Cleo is a 50% partner in A Smidgen of Fluff, a pillow store. Under the terms of the partnership agreement, she is to receive 50%
Cleo is a 50% partner in A Smidgen of Fluff, a pillow store. Under the terms of the partnership agreement, she is to receive 50% of the partnership income, but no less than $25,000. If the store's net income for the year is $54,000, what amount of income does Cleo earn from this partnership?
A)$12,500
B)$25,000
C)$27,000
D)$52,000
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