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connor & lucas co. reports net income of 42,300. the partnership agreement provides for annual salaries of 24,000 for connor and 18,300 for lucas and

connor & lucas co. reports net income of 42,300. the partnership agreement provides for annual salaries of 24,000 for connor and 18,300 for lucas and interest allowances of 4,300 to connor and 6,200 to lucas. any remaining income or loss is to be shared 70% by connor and 30% by lucas

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