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Dividing Partnership Net Income Steve Prince and Chelsy Boxer formed a partnership, dividing income as follows: Annual salary allowance to Prince of $ 1 9
Dividing Partnership Net Income
Steve Prince and Chelsy Boxer formed a partnership, dividing income as follows:
Annual salary allowance to Prince of $
Interest of on each partner's capital balance on January
Any remaining net income divided to Prince and Boxer, :
Prince and Boxer had $ and $ respectively, in their January capital balances. Net income for the year was $
How much net income should be distributed to Prince and Boxer?
Prince: Boxer: $
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